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TMI Blog2022 (2) TMI 742X X X X Extracts X X X X X X X X Extracts X X X X ..... ra) Member(Technical) For Appellant: Mr. Monaal Davawala, Advocate JUDGMENT DR. ASHOK KUMAR MISHRA, TECHNICAL MEMBER 1. The present appeal has been filed by the 'Appellant' under Section 61 of the 'Insolvency and Bankruptcy Code, 2016' (in short 'Code') against the impugned order dated 12.07.2021 passed by the 'Adjudicating Authority' (National Company Law Tribunal), Ahmedabad Bench - Cour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r indefinite period. This application stands disposed of. We direct Resolution Professional to take further steps to complete the CIRP process as per provisions of law. In view of this, IA No. 453 of 2021 stands disposed of." 3. In the 11th meeting of the CoC of the CD held on 09.06.2021, the CoC has approved the Resolution through e-voting as follows: "Mr. Vinod Tarachand Agarwal has been appo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the approval of the Committee, the RP shall proceed to reissue the EOI i.e. Form -G be published in leading newspaper and the cost of publication shall form part of CIRP costs". "Resolved that the application for exclusion of period to be filed with the Hon'ble NCLT by the RP as approved by the Committee." "Further resolved that the members of the CoC to authorize the RP Mr. Vinod Agrawal, IP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Interest' (EOI) and hence there is a need for exclusion of such period. The Ld counsel has also pointed out that the Appellant was perusing legal proceedings to get attachment of sole property of the CD lifted before various judicial forum to get the property released as early as possible and also cited the judgment of Hon'ble Apex Court in the case of 'Committee of Creditors of Essar Steel Ind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essional/ Committee of Creditors. d. If granting of 90 days helps the Corporate Debtor to revive, then the basic objective of the I&B Code, 2016 will be met. Liquidation is the last resort. Hence, this 'Tribunal' is of the subjective opinion that no prejudice will be caused in allowing the instant appeal to prevent an aberration of justice and to promote substantial cause of justice. Viewed in t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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