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2020 (11) TMI 535 - Tri - Insolvency and BankruptcyCompletion of period of 116 days from the statutory period of 180 days' time limit for completion of the CIRP - section 12(2) of IBC, 2016 R/w Rule 11 of NCLT Rules, 2016 - HELD THAT:- Hon'ble Supreme Court of India in [2020 (5) TMI 418 - SC ORDER] where it was held that the period of lockdown imposed by the Central Government in the wake of Covid-19 outbreak shall not be counted for the purposes of computation of the time-line for any task that could not be completed due to such lockdown, in relation to any liquidation process. The material facts of the issue are not in dispute, and the law on the issue is also settled by the judgments cited above. Therefore, the Applicant is justified to seek extension and exclusion of time as sought for in the Application, and thus we are inclined to allow the instant Application. The exclusion of 116 days i.e., from the statutory period of 180 days and to complete the Corporate Insolvency Resolution Process - application disposed off.
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