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TMI Blog2022 (2) TMI 1012X X X X Extracts X X X X X X X X Extracts X X X X ..... of its judgment in COMMITTEE OF CREDITORS OF ESSAR STEEL INDIA LIMITED THROUGH AUTHORISED SIGNATORY VERSUS SATISH KUMAR GUPTA OTHERS [ 2019 (11) TMI 731 - SUPREME COURT ], where it was held ordinarily the time taken in relation to the corporate resolution process of the corporate debtor must be completed within the outer limit of 330 days from the insolvency commencement date, including extensions and the time taken in legal proceedings. However, on the facts of a given case, if it can be shown to the Adjudicating Authority and/or Appellate Tribunal under the Code that only a short period is left for completion of the insolvency resolution process beyond 330 days, and that it would be in the interest of all stakeholders that the corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ta, Member (T) For the Appellant : Yash Tandon , Adv ORDER IA No. 366/2021 1. This is an application filed by Mr. Anuj Kumar Tiwari, the Resolution Professional of Chinttpurni Engineering Works Private Limited under Sec. 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Regulation 47A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 seeking exclusion of certain period in the CIRP period of the corporate debtor so that the CIRP period can be extended till 02.03.2022. 2. This is a matter in which CIRP of the Corporate Debtor was initiated on 14.02.2020 appointing Mr. Kashi Viswanathan Sivaraman as IRP. He was later replaced by Mr. Anuj Kumar Tiwari as RP of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the considered view that the as CIRP is at its final stage, there exist substantial chances of revival of the corporate debtor. 6. Considering the guidelines given by Hon'ble Supreme Court in para 127 of its judgment in Committee of Creditors of Essar Steel India Limited through Authorised Signatory v. Satish Kumar Gupta & Ors. 2020 8 SCC 531, where it was held "ordinarily the time taken in relation to the corporate resolution process of the corporate debtor must be completed within the outer limit of 330 days from the insolvency commencement date, including extensions and the time taken in legal proceedings. However, on the facts of a given case, if it can be shown to the Adjudicating Authority and/or Appellate Tribunal under th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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