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TMI Blog2020 (12) TMI 954X X X X Extracts X X X X X X X X Extracts X X X X ..... revised Resolution Plan and it will be for the Committee of Creditors whether or not to accept the Resolution Plan, and if rejected may take further suitable decision regarding liquidation. Appeal disposed off. - Company Appeal (AT) (Ins.) No. 1117 of 2020 - - - Dated:- 23-12-2020 - [Justice A.I.S. Cheema] Member (Judicial) And [V. P. Singh] Member (Technical) For Appellant: Mr. Sumant Batra, Advocate Ms. Astha Mehta, Advocate For Respondents: Mr. Ravi Pahwa, Advocate for R-1 Ms. Sangya Negi for R-2. ORDER Heard the Learned Counsel for the Appellant. This Appeal has been filed against the Impugned Order dated 09.12.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench, Ahm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... herein that as per record 180 days expired on 15.06.2020 and thereafter, the RP has already availed 68 days of the lockdown period, which was also expired on 28.08.2020 but till November, 2020 RP has not filed any application for extension of time for further 90 days. However, in the first week of November, all of a sudden, the RP has filed an application for extension of time by wasting almost more than two months ignoring the very object of the IB Code, which is required to be completed in time bound manner. It is a matter of record that on 09.11.2020, while passing the order on application so filed by RP, notice was issued to the COC. However, it is the prime duty of the RP to call and convene the meeting of COC in time bound manne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the offer Appellant had made earlier and moved the Adjudicating Authority to direct the Resolution Professional to receive and process the revised Resolution Plan. It is stated that 270 days period is still not over. 3. The Learned Counsel submits that the revised Resolution Plan is at Page 46 (Annexure P/6). The Learned Counsel states that orders of liquidation are yet not passed by the Adjudicating Authority and matter is posted on 25.01.2021. It is stated that in the meanwhile the Committee of Creditors can consider even this Resolution Plan (Annexure P/6) so that attempt can be made to save the Corporate Debtor M/s Jason Dekor Pvt. Ltd. from liquidation. 4. Issue Notice. 5. Mr. Ravi Pahwa, Advocate appears on behalf of R ..... X X X X Extracts X X X X X X X X Extracts X X X X
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