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TMI Blog2020 (3) TMI 1263X X X X Extracts X X X X X X X X Extracts X X X X ..... tanu Kumar Mohapatra, Member (T) For the Appellant : Abhishek Anand, Honey Satpal, Tushar Tyagi, Viren Sharma, Vishal Ganda, Anushka Sarkar For the Respondent : Kapil Kher and Rashmeet Kaur, Advocates ORDER Santanu Kumar Mohapatra, Member (T) 1. The present company application has been filed by the resolution professional for grant of extension of 45 days of CIRP period beyond 330 days in ter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion of the Hon'ble Supreme Court in Civil Appeal No. 8766-67 of 2019 in the matter of Committee of Creditors of Essar Steel India Limited Versus Satish Kumar Gupta 8B Ors. decided on 15th November 2019, where it was inter-alia held that: "Thus, while leaving the provision otherwise intact, we strike down the word "mandatorily" as being manifestly arbitrary under Article 14 of the Constituti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... being sent into liquidation and that the time taken in legal proceedings is largely due to factors owing to which the fault cannot be ascribed to the litigants before the Adjudicating Authority and/or Appellate Tribunal, the delay or a large part thereof being attributable to the tardy process of the Adjudicating Authority and/or the Appellate Tribunal itself, it may be open in such cases for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the present case is further extended by 45 days from the date of this order. The Resolution Professional and the members of Committee of Creditors are directed to expedite the possibility of achieving resolution of the stressed assets of the corporate debtor within the extended period.
7. CA-1160(PB)/2020 is, accordingly, allowed in the aforesaid terms. X X X X Extracts X X X X X X X X Extracts X X X X
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