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TMI Blog2022 (3) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... roceedings, irrespective of the limitation prescribed under the general law or Special Laws whether condonable or not shall stand extended w.e.f. 15th March 2020 till further order/s to be passed by this Court in present proceedings. Similarly, the Insolvency and Bankruptcy Board of India vide notification dated 20.04.2020, inserted Regulation 40C to the Insolvency and Bankruptcy Board of India (Resolution Process for Corporate Persons) Regulations, 2016 and the said regulation held that the period of lockdown imposed by the Central Government in the wake of Covid-19 outbreak shall not be counted for the purpose of computation of the timeline for any task that could not be completed due to such lockdown, in relation to any CIRP. Af ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ive working days. ii) For a period of one week from today, the meeting of CoC shall remain stayed. Pursuant to order passed by Hon'ble High Court of Rajasthan the State of Rajasthan preferred an appeal against the order dated 17.02.2022 before Hon'ble NCLAT, Principal Bench, New Delhi in Company Appeal (AT) Insolvency No. 202/2022. Hon'ble NCLAT, in its order observed that till the applications of the appellants i.e., I.A. No. 301/JPR/2019, I.A. No. 327/JPR/2019, I.A. No. 328/JPR/2019 and I.A. No. 47/JPR/2020 pending before the Adjudicating Authority (NCLT, Jaipur Bench) are disposed of, the Resolution Professional shall not convene any fresh meeting of the CoC. However, the Resolution Professional may take further s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssional (JMEL) Mr. Ashu Kansal, expressed his inability to travel to Jaipur for conducing hearing physically and expressed his willingness to assist the Tribunal only by virtual mode. In view of the above the Registry of this Bench has sought the guidance of Hon'ble President, NCLT, New Delhi as to whether hybrid mode should be followed or not, guidelines are awaited. Today Hon'ble Technical Member of this Bench is not present due to some medical urgency in his family and a special bench has been constituted comprising of Mr. Deep Chandra Joshi, Judicial Member and Mr. Subrata Kumar Dash, Technical Member for the hearing of the cases on 03.03.2022 04.03.2022. Parties have requested that the matter may be heard by the regular Bench ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... od of limitation in all such proceedings, irrespective of the limitation prescribed under the general law or Special Laws whether condonable or not shall stand extended w.e.f. 15th March 2020 till further order/s to be passed by this Court in present proceedings. We are exercising this power under Article 142 read with Article 141 of the Constitution of India and declare that this order is a binding order within the meaning of Article 141 on all Courts/Tribunals and authorities. This order may be brought to the notice of all High Courts for being communicated to all subordinate Courts/Tribunals within their respective jurisdiction. Issue notice to all the Registrars General of the High Courts, returnable in four weeks. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncy) No. 185 of 2018 decided on 8th May, 2018 do hereby order as follows:-- (1) That the period of lockdown ordered by the Central Government and the State Governments including the period as may be extended either in whole or part of the country, where the registered office of the Corporate Debtor may be located, shall be excluded for the purpose of counting of the period for 'Resolution Process under Section 12 of the Insolvency and Bankruptcy Code, 2016, in all cases where 'Corporate Insolvency Resolution Process' has been initiated and pending before any Bench of the National Company Law Tribunal or in Appeal before this Appellate Tribunal. Similarly, the Insolvency and Bankruptcy Board of India vide notification ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... excluded for the purposes of limitation as may be prescribed under any general or special laws in respect of all judicial or quasi-judicial proceedings. II. Consequently, the balance period of limitation remaining as on 03.10.2021, if any, shall become available with effect from 01.03.2022. III. In cases where the limitation would have expired during the period between 15.03.2020 till 28.02.2022, notwithstanding the actual balance period of limitation remaining, all persons shall have a limitation period of 90 days from 01.03.2022. In the event the actual balance period of limitation remaining, with effect from 01.03.2022 is greater than 90 days, that longer period shall apply. IV. It is further clarified that the period from ..... X X X X Extracts X X X X X X X X Extracts X X X X
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