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TMI Blog2021 (9) TMI 434X X X X Extracts X X X X X X X X Extracts X X X X ..... udicating Authority is empowered to pass orders as it deems fit. In view of the circumstances narrated in the Petition, the extension of time period prayed for deserves to be acceded to - the period is extended for four months from 11.04.2021 in the Liquidation - petition disposed off. - I.A. No. 125 of 2021 in C.P. (IB) No. 48/BB/2018 - - - Dated:- 6-8-2021 - Bhaskara Pantula Mohan, Actg. President And Hemant Kumar Sarangi, Member (T) For the Appellant : Party-in-Person ORDER Bhaskara Pantula Mohan, Actg. President 1. IA. No. 125 of 2021 in C.P. (IB) No. 48/BB/2018 is filed by Mr. Vinod Sunder Raman, Liquidator of M/s. Pranee Infrastructures Private Limited (hereinafter referred to as 'Applicant/Liquidator') ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct was completed and is ready for possession. The Liquidator also sought declaration from ISRO that the project was completed. However the Liquidator is yet to receive any response, in spite of follow up with ISRO. (3) It is further stated that the Liquidation process in the above mentioned matter has not been completed and in the meantime, the nationwide lockdown was imposed by the Government of India and the period of 365 days of Liquidation was going to expire on 19.11.2020. However, as per the provisions of section 47A of the IBBI (Liquidation) Regulations, 2016, an application for exclusion of 143 days on account of lockdown period from 25.03.2020 till 15.08.2020 was filed before this Hon'ble Tribunal and this Hon'ble Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Date of Auction Asset Asset Sold 1 E auction Under IBC 2016 12.01.2021 Lot-1 Residential Villa Lot-2 : Plant machinery Lot-2 : Plant machinery 2 E auction Under IBC 2016 12.03.2021 Lot-1 : Residential Villa - At the first attempt of sale only Lot No. 2 of Plant and Machinery was sold. (6) The Liquidator has also stated that as per Regulation 44 (1) of the Liquidation Process Regulations the time period given to the Liquidator for the Liquidation of the Corporate Debtor is has come to an end on 11.04.2021 and seeks add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itation in all such proceedings, irrespective of the limitation prescribed under the general law or special Laws whether condonable or not shall extended w.e.f 15th March, 2020 till further order/s to be passed by this Court in present proceedings. We are exercising this power under Article 142 read with Article 141 of the Constitution of India and declare that this order is a binding order within the meaning of Article 141 on all Courts/Tribunals and authorities. This order may be brought to the notice of all High Courts for being communicated to all subordinate Courts/Tribunals within their respective jurisdiction. Issue notice to all the Registrars General of the High Courts, returnable in four weeks. IBBI has also inserted Re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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