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2021 (2) TMI 1192 - Tri - Insolvency and BankruptcySeeking extension of time period of 322 days between the date of order of admission dated 30.01.2020 till the actual date (i.e. 16.12.2020) on which the present IRP came to know about the appointment and to declare 16.12.2020 as the date of commencement of CIRP - HELD THAT:- As evident from the various reports, since the order dated 30.01.2020 was uploaded on the website of this Tribunal on the very next day of the pronouncement i.e., on 31.01.2020, it is deemed to have been communicated to all the parties. Therefore, the plea that the parties had no knowledge about the order dated 30.01.2020 does not merit any consideration. Further, the IP, who admittedly pursuant to the Rule 9 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016, had given his consent dated 17.12.2020 in the Form-2 to act as Interim Resolution Professional (IRP) in the present matter was obligated to keep a track of the status of the case, for which he had given the express consent. In view of the amendment by Section 12 of IBC 2016, by which the CIRP shall mandatorily be completed within a period of 330 days including any extension of the period of CIRP granted and the time taken in legal proceedings, there are no merit in the prayers for exclusion of the period of 322 days from CIRP and declaration of 16.12.2020 as the date of commencement of CIRP. In the interest of taking the CIR process forward, what could utmost be done in terms of the Regulation 40C of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2020 is to exclude the period of Lockdown imposed by Central Government in the wake of Covid-19 and accordingly, the exclusion of the period from 25.03.2020 to 30.06.2020 i.e., a total period of 97 days from the period of CIRP is ordered with a direction to the IRP to expedite the CIR process. Application disposed off.
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