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TMI Blog2020 (9) TMI 834X X X X Extracts X X X X X X X X Extracts X X X X ..... ember (J) And Satya Ranjan Prasad, Member (T) For the Appellant : Saswat K. Acharya, Adv., Sourya Sundar Das, Sr. Adv For the Respondent : Haripad Mohanty, A P. Swain, Shalaka Das, Advs. and Anupam Dash ORDER 1. The present application is filed by the Resolution Professional Mr. Kshitiz Chhawchharia under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 for exclusion of a period of 21 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting a Resolution Plan. Further, the Corporate Debtor is an ongoing concern. Hence, it is very important to grant extension of time to complete the Corporate Insolvency Resolution Process. In this application, the applicant/Resolution Professional seeks time stating there was an outbreak of fire in the turbine in the captive power plant of the Corporate Debtor on 18th September, 2019. The applican ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ven beyond a period of 330 days." "on the facts of a given case, if it can be shown to the Adjudicating Authority and/or Appellate Tribunal under the Code that only a short period is left for completion of the Insolvency Resolution Process beyond 330 days, and that it would be in the interest of all stakeholders that the Corporate Debtor be put back on its feet instead of being sent into liquida ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us of all member of CoC, the members authorized the RP to file a suitable application for exclusion of 21 days in the CIRP period with the Hon'ble NCLT, Cuttack Bench. The members agreed that they shall seek clarifications from the RAs on the aforesaid concerns, and simultaneously arrange for the requisite approvals from their committees for casting physical vote during the upcoming CoC Meetin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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