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2019 (10) TMI 963 - AT - Insolvency and BankruptcyInitiation of CIRP - exclusion of certain period for the purpose of counting 270 days - Section 12A of the ‘I&B Code’ - HELD THAT:- The Adjudicating Authority should have allowed the intervening period i.e. the period when erstwhile ‘Resolution Professional’ Mr. Martin S.K. Golla stopped functioning i.e. from 8th December, 2019 to 11th January, 2019 till the subsequent ‘Resolution Professional’ (present Liquidator) took charge to place the application under Section 12A before the ‘Committee of Creditors’. The impugned order dated 8th March, 2019 including the order of liquidation is set aside and 35 days excluded from the date of receipt of this order by the ‘Resolution Professional’ for the purpose of counting the period of 270 days so as to ensure ‘Successful Resolution Process’ in terms of Section 12A - appeal allowed.
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