9911796707
TMI Blog2020 (12) TMI 1228X X X X Extracts X X X X X X X X Extracts X X X X ..... evenue and Disaster Management (DM-IV) Department, Government of Tamil Nadu dated 30.08.2020 in order to substantiate the during such time, where the exclusion is sought for, the lockdown was in existence in the Government of Tamil Nadu. As to the facts of the present case, in view of Regulation 40C of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 the period from 05.05.2020 till 31.10.2020 is excluded from the period of CIRP in terms of Section 12(2) of IBC, 2016 - Application allowed. - IA/1001/2020 in IBA/1459/2019 - - - Dated:- 23-12-2020 - R.VARADHARAJAN AND ANIL KUMAR B, JJ. For Applicant T. Ravichandran, Advocate ORDER R. VARADHARAJAN, J. 1. The above application has been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... herein as the Resolution Professional of the Corporate Debtor and accordingly IA/ 726/2020 was filed by the COC of the Corporate Debtor and this Tribunal vide order dated 02.11.2020 appointed the Applicant herein as the Resolution Professional of the Corporate Debtor. It is stated that the 180th day of the Corporate Insolvency Resolution Process of the Corporate Debtor has ended on 04.11.2020 and in the meantime, due to the lockdown imposed by the Central / State Government on account of Covid - 19 pandemic, the various activities in relation to the CIRP of the Corporate Debtor could not be completed as per the timelines prescribed under the Code. 4. The Learned Counsel for the Applicant submitted that the COC in its 5th Meeting held on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... placed on record the G.O. Ms. No. 482, Revenue and Disaster Management (DM-IV) Department, Government of Tamil Nadu dated 12.09.2020 and G.O. Ms. No. 447, Revenue and Disaster Management (DM-IV) Department, Government of Tamil Nadu dated 30.08.2020 in order to substantiate the during such time, where the exclusion is sought for, the lockdown was in existence in the Government of Tamil Nadu. 7. Further, it is pertinent to note here that due to Covid-19 pandemic coupled with attendant lockdown imposed by the Central / State Government, the Regulator viz. IBBI has introduced an Amendment in the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, so as to exclude the period of lockdown from the CIRP timeline. Regula ..... X X X X Extracts X X X X X X X X Extracts X X X X
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