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2019 (6) TMI 1541 - Tri - Insolvency and BankruptcyExclusion of certain days from CIRP period - direction to exclude the period from January 22, 2019 till August 03, 2019,totally for 194 days from the computation of statutory period of the CIRP etc. - HELD THAT:- The object of the Code is to revive the Company rather than to send it for Liquidation. Since the Govt of Karnataka is also showing interest for revival of the Company for the interest of several employees depending on the Company. It is also relevant to point out here, IA No. 48 of 2019 is filed by M/s.Mapletree Leather Goods Private Limited, U/s 60(5) of the IBC, 2016, by inter seeking the direction to the Respondent to accept their resolution Plan and to restrain the Respondent No. 1 to initiate liquidation proceeding etc, which is also pending disposal. Therefore, it is just and proper to exclude the time as sought for in the interest of justice. Petition hereby disposed of by granting exclusion of time for a period of 194 days from 22.01.2019 till 03.08.2019, from the statutory period of 180+90 days which was expired on 22.01.2019.
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