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TMI Blog2021 (12) TMI 185X X X X Extracts X X X X X X X X Extracts X X X X ..... ayers:- (i) Allow the present petition (ii) Pass an order excluding 105 days from the CIRP period of the Corporate Debtor. (iii) Pass a direction to the CoC of the Corporate Debtor to consider the Resolution Plan on PRA in time-bound manner. (iv) Pass such order (s) that this Hon'ble Tribunal may deem fit in the facts and circumstances of the case. 2. Mr. Vasisht, Learned Senior Counsel for the Resolution Professional states that exclusion sought in the present application was also applied prior to this application which was rejected. Learned Counsel further states that thereafter the Resolution Professional approached the Hon'ble National Company Law Appellate Tribunal impugning the said order of rejection. The Hon'ble ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f CIRP and timeline is annexed at Annexure-2. Admittedly, 330 days including 98 days of Covid-19 pandemic lockdown exclusion expired on 13.02.2021. The exclusion from 1st July to 09th August of 40 days for the reason of Covid-19 pandemic lockdown was rejected by the Adjudicating Authority. Admittedly, the Resolution Plans were received by Resolution Professional after expiry of 330 days and were placed for putting before CoC on which the voting was to be held. 5. Mr. Datta, Learned Senior Counsel appearing for the erstwhile promoters at this stage raised grievance against the conduct of CoC and Resolution Professional. Learned Senior Counsel Mr. Datta, further stated that he has already filed an application being IA No. 1465/2021 for the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also held by the Hon'ble Apex Court that resolution and not liquidation should always be considered with all possibilities. Keeping in view this intent the Hon'ble Apex Court, who has also held that technicalities may be considered as discretionary and not mandatory. The grant of time to Resolution Professional and CoC for moving towards achieving Resolution of the Corporate Debtor will be in the interest of all Home Buyers, who are also interested in considering the Plans. The only lacunae in the process of considering of Plan by CoC beyond prescribed period of CIRP. If the same is considered by this Bench for exclusion or extension there is possibility of Resolution forthcoming. The Hon'ble Supreme Court has also held that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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