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TMI Blog2020 (11) TMI 535X X X X Extracts X X X X X X X X Extracts X X X X ..... he issue are not in dispute, and the law on the issue is also settled by the judgments cited above. Therefore, the Applicant is justified to seek extension and exclusion of time as sought for in the Application, and thus we are inclined to allow the instant Application. The exclusion of 116 days i.e., from the statutory period of 180 days and to complete the Corporate Insolvency Resolution Process - application disposed off. - I.A. No. 321/2020 in C.P. (IB)No. 357/BB/2019 - - - Dated:- 2-9-2020 - Rajeswara Rao Vittanala, Member (J) And Ashutosh Chandra, Member (T) For the Appellant : H. R. Katti, Advocate For the Respondent : Ramanahalli S. Doddabyregowda, IRP ORDER Rajeswara Rao Vittanala, Member (J) 1. I.A. No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cial provisions relating to time-line the CoC of the Corporate Debtor in its meeting held on 31st July, 2020 resolved to seek extension of CIRP beyond 180 days i.e. up to 11.12.2020. 3. Heard R.S.D. Gowda, the Resolution Professional, through Video Conference. We have carefully perused the pleadings of the Party and also extant provisions of the Code and Rules made there under, and the decisions relied upon. 4. The Hon'ble Supreme Court of India, in Suo Motu Writ Petition (Civil) No(s).3/2020 in Re: cognizance for extension of Limitation vide order dated 23.03.2020, has inter alia observed as under: This Court has taken Suo Motu cognizance of the situation arising out of the challenge faced by the Country on account of Covi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he provisions of the Code, the period of lockdown imposed by the Central Government in the wake of Covid-19 outbreak shall not be counted for the purposes of computation of the time-line for any task that could not be completed due to such lockdown, in relation to any liquidation process. 5. As stated supra, the material facts of the issue are not in dispute, and the law on the issue is also settled by the judgments cited above. Therefore, the Applicant is justified to seek extension and exclusion of time as sought for in the Application, and thus we are inclined to allow the instant Application. 6. In the result, I.A. No. 321/2020 in C.P.(IB)No. 357/BB/2019 is hereby disposed of with the following directions: (1) We hereby grant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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