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2020 (10) TMI 320 - Tri - Insolvency and BankruptcyExclusion of 30 days from the statutory period of 270 days - CIRP process - HELD THAT:- Reliance can be placed in the decision of the Hon'ble NCLAT in QUINN LOGISTICS INDIA PVT. LTD. VERSUS MACK SOFT TECH PVT. LTD., MOHD. SABIR PARVEZ AND MR. M.L. JAIN, (RESOLUTION PROFESSIONAL) [2018 (6) TMI 904 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI], wherein, the Hon'ble NCLAT has dealt with the question of exclusion of certain time period for the purpose of counting the total CIRP period - it was held that If an application is filed by the ‘Resolution Professional’ or the ‘Committee of Creditors’ or ‘any aggrieved person’ for justified reasons, it is always open to the Adjudicating Authority/Appellate Tribunal to ‘exclude certain period’ for the purpose of counting the total period of 270 days, if the facts and circumstances justify exclusion, in unforeseen circumstances. In addition to the above judgement, the judgement of Apex Court, Committee of Creditors of Essar Steel India Limited Vs. Satish Kumar Gupta & Ors. [2019 (11) TMI 731 - SUPREME COURT ] has conferred power on the Adjudicating Authority to consider issue of exclusion time from statutory period prescribed under the provisions of Code, basing on justification for the same - The facts and circumstance, as stated supra, would justify for exclusion of time as prayed for. It is granted further exclusion of 30 (Thirty) days period from the statutory period of 180+90 days, in addition to earlier exclusion 154 & 54 days already granted in the case, to complete the Corporate Insolvency Resolution Process - application disposed off.
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