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2018 (6) TMI 1665 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Exclusion from the total time period for the corporate insolvency resolution process of the Corporate Debtor - HELD THAT:- According to the RP a period of 22 days got lost owing to the various proceedings initiated by different entities including M/s. M.K. Shah Exports Limited questing various steps taken by the RP in taking the CIRP in progress towards its logical conclusion. That apart, some other entities too had filed other proceeding from time to time some dragging the RP and COC to the Adjudicating Authority again and again which also profoundly interferes with work assigned to COC and RP. According to the RP, if the period is not extended, as prayed for, to compensate the period, so lost in defending various steps, taken by the RP/COC, then the RP or for that matter COC may be handicapped in presenting proper resolution plan(s) which is certainly not in the interest of any of the stakeholders, involved in the proceeding under consideration. Application allowed.
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