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TMI Blog2021 (2) TMI 1192X X X X Extracts X X X X X X X X Extracts X X X X ..... er and further orders as this may deem fit and proper in the facts and circumstances of the case. " 3. To put succinctly, the facts of the case are that the Financial Creditor Mr. Akshay Kr. Soni had filed an application bearing No. IB-1491(ND)/2019 under Section 7 of the Code for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, namely, M/s Value Infraestate Pvt. Ltd. The said application was admitted by this Tribunal vide its Order dated 30.01.2020 and as proposed by the Financial Creditor, Sh. Kumud Shekhar (IBBI/IPA-003/IP-N00206/2018-19/12358) was appointed as the IRP of the Corporate Debtor. 4. It is averred in the Application by the Applicant that he did not receive any intimation regarding his appointment as Interim Resolution Professional either from the Financial Creditor or from the Registry due to which no steps could be taken under CIR Process even though the order was passed by this Tribunal. 5. It is further averred by the Applicant that on 15.12.2020, one Mr. Anil Tayal had sent an E-Mail to the Applicant wherein he requested for submission of a claim against the Corporate Debtor i.e., Value Infraestate India Pvt. Ltd. (CI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion Professional' is functioning for one or other reason during the corporate insolvency resolution process, such as removal. (iii) The period between the date of order of admission/ moratorium is passed and the actual date on which the 'Resolution Professional' takes charge for completing the corporate insolvency resolution process. (iv) On hearing a case, if order is reserved by the Adjudicating Authority or the Appellate Tribunal or the Hon'ble Supreme Court and finally pass order enabling the 'Resolution Professional' to complete the corporate insolvency resolution process. (v) If the corporate insolvency resolution process is set aside by the Appellate Tribunal or order of the Appellate Tribunal is reversed by the Hon'ble Supreme Court and corporate insolvency resolution process is restored. (vi) Any other circumstances which justifies exclusion of certain period. However, after exclusion of the period, if further period is allowed the total number of days cannot exceed 270 days which is the maximum time limit prescribed under the Code." 11. It is also stated by the Applicant that pursuant to Rule 9 of the Insolvency and Bankruptcy (Applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... That the IT Official Mr. Yogendra Verma has submitted report through Ld. Registrar, NCLT on 22.01.2021 and reconfirmed that "The order dated 30.01.2020 in case no. IB-1491(ND)2019-Akshay Kr. Soni Vs. M/s Value Infraestate India Pvt. Ltd. has been uploaded on nclt Website dated 31.1.2020". He has attached the screenshot of the website along with his report. The report is reproduced below : 18. That further, the Applicant in his Application has taken a plea that as per the order dated 30.01.2020 this Tribunal had directed the Registry to inform the IRP, Financial Creditor (Applicant) and Respondent within 7 days of passing of the order. 19. That on perusal of the order dated 30.01.2020, we notice that Registry was directed to communicate the order to the parties concerned but we do not find any specific direction to communicate within 7 days. Here, we consider it worthwhile to refer to the Judgement of Hon'ble NCLAT in deciding a similar issue in the matter of Kuntal Constructions Pvt. Ltd Vs M/s Bharat Hotels Ltd. In Company Appeal (AT) (Insolvency) No. 542 of 2020: "21. We also want to clarify that no one can take recourse that they have not been communicated the Judgment. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Adjudicating Authority to extend the period of the corporate insolvency resolution process beyond one hundred and eighty days, if instructed to do so by a resolution passed at a meeting of the committee of creditors by a vote of 1 [sixty-six] per cent. of the voting shares. (3) On receipt of an application under sub-section (2), if the Adjudicating Authority is satisfied that the subject matter of the case is such that corporate insolvency resolution process cannot be completed within one hundred and eighty days, it may by order extend the duration of such process beyond one hundred and eighty days by such further period as it thinks fit, but not exceeding ninety days: Provided that any extension of the period of corporate insolvency resolution process under this section shall not be granted more than once: [Provided further that the corporate insolvency resolution process shall mandatorily be completed within a period of three hundred and thirty days from the insolvency commencement date, including any extension of the period of corporate insolvency resolution process granted under this section and the time taken in legal proceedings in relation to such resolution proces ..... X X X X Extracts X X X X X X X X Extracts X X X X
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