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TMI Blog2022 (8) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... er prospective Resolution Applicants. The application is allowed and the delay in filing the EoI is condoned. The Resolution Professional is directed to provide the applicant with the information memorandum to enable the Applicant to file EoI and Resolution Plan within a day from the date of this order i.e. 21 July 2022, any clarification, if any shall be resolved within a day i.e. 22 July 2022. Considering the judicial time taken for deciding the application, the Applicant shall file its Resolution Plan within three days i.e. 25 July 2022. No further time shall be granted to the Applicant - List the main Company Petition on 04 August 2022. - I.A. (IB) No. 578/KB/2022 and I.A. (IB) No. 594/KB/2022 in C.P. (IB) No. 369/KB/2020 - - - Dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot aware of the publication made for Invitation for EoI on 25 March 2022. 7. The learned Counsel submits that in the year 2019, the Applicant was in talks with the Corporate Debtor and the consortium of lenders to become a strategic investor in the Corporate Debtor, but the said talks did not materialise at that point of time. 8. It was only after 09 May 2022 that it came to the knowledge of the Applicant that the Corporate Debtor was in CIRP and that EoI has been published. The Applicant submitted EoI on 17 May 2022 as the sole Director of the Applicant was not available. 9. The EoI submitted by the Applicant was rejected by the Respondent No. 3 vide email dated 20 May 2022. 10. Mr. Banerji submitted that the Applicant being a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt I.A. has been filed against the rejection of the Applicant's request for submission of Expression of interest. 15. The learned Counsel submitted that in the 4th meeting of the CoC held on 22 April 2022, the Respondent No. 3 apprised the CoC that he had received EoI's, in order to enable larger participation, the CoC decided to extend the time for submission of the EoI from 24 April 2022 to 09 May 2022. Hence, it is pertinent of note that the last date for submission of EoI was 09 May 2022. 16. The Applicant expressed its desire to submit its EoI via email on 17 May 2022 and requested the Respondent No. 3 to condone the delay in submitting the same. 17. In the 5th CoC meeting held on 18 May 2022, the Respondent No. 3 info ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of submitting its EOI. I.A. (IB) No. 594/KB/2022 22. I.A.(IB) No. 594/KB/2022 has been filed by Mr. Girish Sriram Juneja, the Resolution Professional of Hindusthan National Glass Industries Limited praying for extension of the Corporate Insolvency Resolution Process by a period of 90 days on completion of 180 days on 10 July 2022. 23. Mr. Vikram Wadehra, learned Counsel appearing on behalf of the Resolution Professional submitted that CIRP was initiated on 21 October 2021, thereafter, appeal was preferred and an interim order was passed staying the constitution of CoC, which was vacated on 18 January 2022. 24. The period of 82 days i.e. from 23 October 2021 to 18th January 2022 was excluded vide order dated 25 April 2022. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of the EoI to 9th May, with a view to have a larger competition. At this stage, the process of submission of Resolution Plans is going on hence we find that allowing the present I.A. shall not prejudice the other prospective Resolution Applicants. We allow I.A (IB) No. 578/KB/2022 and condone the delay in filing the EoI. The Resolution Professional is directed to provide the applicant with the information memorandum to enable the Applicant to file EoI and Resolution Plan within a day from the date of this order i.e. 21 July 2022, any clarification, if any shall be resolved within a day i.e. 22 July 2022. 31. Considering the judicial time taken for deciding the application, the Applicant shall file its Resolution Plan within three days ..... X X X X Extracts X X X X X X X X Extracts X X X X
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