9911796707
TMI Blog2021 (9) TMI 1302X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 and only exclude the period commencing from 25.03.3020 to 30.06.2020 i.e. 98 days on the ground of Lockdown imposed by the Central Government as well as State Government while calculating the total period of Corporate Insolvency Resolution Process. 2. The facts giving rise to the instant Appeal is as under: i) That the Applicant (Appellant herein) filed I.A. No. 453 of 2021 in Company Petition (IB) No. 2083/ND/2019 before the National Company Law Tribunal, Bench No.-V, New Delhi, inter alia stating therein as follows: PRAYER " In view of above said facts and circumstances, it is prayed most respectfully to this Hon'ble Tribunal, to:- a) Allow the present Application and exclude the 221 days from Corporate Insolvency Resolution Proc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation 2016 the total period of 221 days may be excluded. vi) The Ld. Adjudicating Authority after hearing the parties partly allowed the I.A. No. 453 of 2021 vide order dated 01.04.2021 and only exclude the period commencing from 25.03.3020 to 30.06.2020 i.e. 98 days on the ground of Lockdown imposed by the Central Government as well as State Government while calculating the total period of Corporate Insolvency Resolution Process. Hence this Appeal. 3. Learned counsel for the Appellant while assailing the impugned order submitted as follows. i) The Schedule of Corporate Insolvency Resolution Process of the Corporate Debtor is stated herei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orate Debtor in the conducting of the CIRP of the Corporate Debtor. vi) Severe prejudice shall be caused to the Corporate Debtor if the Impugned order dated 01.04.2021 is not set aside by the Hon'ble Appellate Tribunal along with specific directions, as the Corporate Insolvency Resolution Process period, as per the impugned order dated 01.04.2021 stands expired on 02.11.2020, since the Resolution Plan has been received on 04.01.2021 and the same is approved by the CoC in the 6th CoC Meeting held on 13.01.2021 with a majority voting of 80.43% assent. 4. After hearing and perusal of the impugned order, we are of the considered view that where Ld. Adjudicating Authority excluded only 98 days, we hereby exclude 221 days (the period from 25.03 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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