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TMI Blog2018 (6) TMI 1062X X X X Extracts X X X X X X X X Extracts X X X X ..... : Ms. Varsha Banerjee and Mr. Tarun Mehta, Advocates For The Respondent : Mr. Kamal Satija, Advocate ORDER On 26th April, 2018 when the case was taken up, the following order was passed : "The question arises for consideration in this appeal is as to how the period of 180 days is to be counted for Corporate Insolvency Resolution Process i.e. from the date of admission, as per the provision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clear that if an application is filed by the 'Resolution Professional' or the 'Committee of Creditors' or 'any aggrieved person' for justified reasons, it is always open to the Adjudicating Authority/Appellate Tribunal to 'exclude certain period' for the purpose of counting the total period of 270 days, if the facts and circumstances justify exclusion, in unforeseen circumstances. 10. For exam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al or the Hon'ble Supreme Court and finally pass order enabling the 'Resolution Professional' to complete the corporate insolvency resolution process. (v) If the corporate insolvency resolution process is set aside by the Appellate Tribunal or order of the Appellate Tribunal is reversed by the Hon'ble Supreme Court and corporate insolvency resolution process is restored. (vi) Any other circu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allow the 'Resolution Professional' to complete the 'corporate insolvency resolution process' by 15th June, 2018. 5. The impugned order dated 16th March, 2018 passed by the Adjudicating Authority, Mumbai Bench in M.A. No. 131/2018 in C.P. (IB) - 1197(MB)/2017 stands modified to the extent above. The observation made by the Adjudicating Authority against the 'Resolution Professional' is expunged a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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