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TMI Blog2021 (7) TMI 1080X X X X Extracts X X X X X X X X Extracts X X X X ..... velopment Authority) to approve/revise the sanction plan of Project Maple Realcon Pvt. Ltd. Situated at GH-1, Sports City, Sector-1, Tech Zone 4, Noida Extension, Greater Noida West, in terms of approval order dated 20.02.2020, passed in IB-496-(ND)/2018. b. Pass such other order(s) as this Hon'ble Tribunal may deem fit and proper in the facts and circumstances of the present petition. 2. We have heard the Ld. Counsel for the applicant/Resolution Applicant as well as Respondent/GNIDA and perused the averments made in the application as well as reply filed to the application. 3. Ld. Counsel for applicant contended that the Resolution Plan has already been approved by this Adjudicating Authority vide order dated 20.02.2020 and in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al for Jaypee Infratech Limited Vs. Axis Bank Limited Etc reported in Civil Appeal Nos. 8512-8527 of 2019 judgment dated 26.02.2020. ii. Decision of Hon'ble Supreme Court in the matter of Pioneer Urban Land and Infrastructure Limited and Anr. Vs. Union of India & Ors. reported in Writ Petition (Civil) No. 43 of 2019 judgment dated 09.08.2019. iii. Decision of Hon'ble NCLAT in the matter of Nikhil Mehta and Sons Vs. AMR Infrastructure Ltd. in Company Appeal No. 7 of 2017. iv. Decision of Hon'ble Supreme Court in the matter of Swiss Ribbons Pvt. Ltd. & Anr Vs. Union of India & Ors. in Writ Petition (Civil) No. 99 of 2018 judgment dated 25.01.2019. v. Decision of Hon'ble NCLAT in the matter of Mr. Rajnish Jain Vs. Manoj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vision, to consider this fact that whether the prayer of the applicant comes within the purview of Section 60 (5) of IBC, 2016 or not? 15. The relevant provision of Section 60 (5) of IBC, 2016 is quoted below: IBC Section 60- Adjudicating Authority for corporate persons. 1. ............. 2. ............. 3. ............. 4. ............. 5. Notwithstanding anything to the contrary contained in any other law for the time being in force, the National Company Law Tribunal shall have jurisdiction to entertain or dispose of- (a) any application or proceeding by or against the corporate debtor or corporate person; (b) any claim made by or against the corporate debtor or corporate person, including claims by or against any of its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ighty days beginning from the insolvency commencement date and ending on one hundred and eightieth day. 20. This period of 180 days may be extended under Section 12 of IBC, 2016. In view of the amended provision of Section 12 of IBC, 2016, the total period of insolvency resolution process can be of 330 days. Which means, the period so referred to in Section 5(14) of IBC, 2016 is subject to the extension made under Section 12 of IBC, 2016 or till when the Resolution Plan is approved by the Adjudicating Authority. 21. Here in the case in hand, the Resolution Plan has already been approved by the Adjudicating Authority on 20.02.2020. Therefore, no insolvency proceeding is pending before the Adjudicating Authority. 22. Under such circumstanc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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