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TMI Blog2019 (9) TMI 1252X X X X Extracts X X X X X X X X Extracts X X X X ..... lusion of the period as IRP was discharging his duties as RP for completion of the CIRP. Application dismissed. - C.P. (IB)-1767/(MB)/2017, MA 1874/2019, MA 1870/2019 And MA 1875/2019, MA 1873/2018 - - - Dated:- 27-5-2019 - SHRI V. P. SINGH, MEMBER (J) AND SHRI RAVIKUMAR DURAISAMY MEMBER (T) ORDER 1. MA 1874/2019, MA 1870/2019, MA 1875/2019, MA 1873/2019IN CP (IB)-1767(MB)/2017 MA 1873/2019 has been filed by the RP seeking exclusion of 145, days, i.e. the period between 30.8.2018 to 23.1.2019, i.e. the period between the date of order of admission and the actual date on which the RP takes charge for completing the CIRP to count the total period of 270 days. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... against the suspended Directors of the Corporate Debtor for extending their assistance in managing the affairs of the Corporate Debtor and providing necessary information. It is further submitted by the applicant that Punjab National Bank being the lead bank in CoC has preferred an application through its authorised officer bearing MA 1413/2018 in CP(IB) 1767/2017 dated 16.11.2018 before this Tribunal for the appointment of the proposed resolution professional in terms of Section 22 of the Code. It is further stated by the applicant that this Tribunal vide order dated 28.11.2018 directed the CoC to reconsider the appointment of proposed RP Mr Ramchandra D. Choudhary and to recommend the name of some other per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of all formalities under the Code and the Corporate Debtor has a good opportunity of receiving a resolution plan. The applicant has expressed to initiate the EOI by publishing the EOI in the Form G and decided the Evaluation Matrix and Minimum Eligibility Criteria through the e-voting process. The applicant has further stated that he has taken charge of the management and operations of the Corporate Debtor after completion of about 145 days, after that, in the 5thCoC meeting which was convened on 6.2.2019, the CoC passed a resolution for authorizing the applicant to file an application for extension of CIRP period by further 90 days. The application was filed under Section 12 of IBC, 2016 and consequently, an extension ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss, such as removal. ( iii) The period between the date of order of admission/moratorium is passed and the actual date on which the Resolution Professional takes charge for completing the corporate insolvency resolution process. ( iv) On hearing a case, if the order is reserved by the Adjudicating Authority or the Appellate Tribunal 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 ( vi) by the Hon ble Supreme Court, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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