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2020 (10) TMI 268 - Tri - Insolvency and BankruptcyExclusion of period of 103 days from CIRP period - exclusion sought on the ground that an application against RP, challenging the admission of claims of SASF and for revision in the voting rights among the members of CoC was filed and was first listed for hearing on 01.11.2019 and the same was reserved for orders on 11.02.2020. HELD THAT:- As the process of CIRP was restrained on account of disputes regarding voting share amongst the members of CoC which required adjudication by this Adjudicating Authority, the instant case will squarely fall within the category of "unforeseen circumstances" which have adversely impacted the CIRP process. As submitted by RP a Resolution Plan is ready to be voted upon by the members of CoC, and if the exclusion for the period as prayed for is not allowed, the Corporate Debtor will be driven to liquidation. Considering the exceptional circumstances of this case, this Adjudicating Authority is satisfied with the reason as mentioned and therefore deems it proper to grant an exclusion of 102 days from the CIRP period, as this will be in the interest of all the stakeholders of the Corporate Debtor - Application allowed.
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