9911796707
TMI Blog2021 (9) TMI 1302X X X X Extracts X X X X X X X X Extracts X X X X ..... overnment. Thus, the impugned order is hereby set aside. The time spent in pursuing the instant Appeal i.e. Company Appeal (AT) (Insolvency) No. 444 of 2021 filed by Resolution Professional (Appellant herein) on 18.06.2021 to till the date of Judgment is also excluded from the CIRP period. Appeal allowed - Registry to upload the Judgment forthwith on the website of this Appellate Tribunal. - Company Appeal (AT) (Insolvency) No. 444 of 2021 - - - Dated:- 7-9-2021 - JUSTICE ANANT BIJAY SINGH, MEMBER (JUDICIAL) AND MS. SHREESHA MERLA], MEMBER (TECHNICAL) For Appellant: Mr. Manoj Kumar Garg, Advocate for RP. For Respondent: Mr. Sagar Bansal, Advocate for CoC., Mr. Amit Mahaliyan, Advocate for R-2. JUDGMENT under the L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aring I.A. No. 453 of 2021 filed by Resolution Professional (Appellant herein) in terms of the provision under Section 12 of the Insolvency and Bankruptcy Code, 2016 read with Section 60(5) of the insolvency and Bankruptcy Code, 2016 and Regulation 40(C) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016, for exclusion of Covid-19 period and extending the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. v) The period of Lockdown due to Covid-19 from 25.03.2020 to 31.10.2020 imposed by the Central Government and the State Government respectively. The 180 days time of the Corporate Insolvency Resolution Process was ended during Lo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... S. No. Event Date 1. Commencement of CIRP 29.01.2020 2. Expiry of 180 days of CIRP 27.07.2020 3. Expiry of CIRP after 98 days extension/exclusion granted vide order dated 01.04.2021 02.11.2020 iii) That as per the Insolvency and Bankruptcy Board of India Notification dated 29.03.2020, the Covid-19 period will not be counted within the timeline of the Resolution Process. iv) If the Notification dated 29.03.2020 issued by the Insolvency and Bankruptcy Board of India Notification is strictly adhered to, then the following schedule s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om 25.03.2020 to 31.10.2020) from the CIRP period as prayed by the Appellant on the ground of Lockdown imposed by the Central Government as well as State Government. Thus, the impugned order is hereby set aside. The time spent in pursuing the instant Appeal i.e. Company Appeal (AT) (Insolvency) No. 444 of 2021 filed by Resolution Professional (Appellant herein) on 18.06.2021 to till the date of Judgment is also excluded from the CIRP period. The present Appeal stands allowed with the above observations and directions. 5. Registry to upload the Judgment forthwith on the website of this Appellate Tribunal. 6. Registry is directed to send the copy of this Judgment to the Adjudicating Authority, National Company Law Tribunal, New Delhi Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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