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2021 (5) TMI 898 - Tri - Insolvency and BankruptcyExclusion of time from CIRP process - covid-19 lockdown pandemic situation - HELD THAT:- The prayer of the IRP to exclude to 154 days to continue CIRP till 17/07/2020 has already been allowed by this Bench. So, this prayer of the applicant has become infructuous in view of the order dated 11.02.2021 passed by this Bench. Stay on proceeding not provided - HELD THAT:- Since the proceeding was not stayed by the Hon'ble NCLAT, therefore, the prayer of the applicant to exclude the period commencing from 27.07.2020 to 04.09.2020(39 days) on the ground that Hon'ble NCLAT has stayed the proceeding is not liable to be accepted. Accordingly, this prayer of the applicant/Resolution Professional is hereby rejected. Exclusion of Covid-19 period exclusion for the period beyond 17.07.2020 to 27.07.2020 for the situs of office of RP (as registered with Insolvency and Bankruptcy of India) being in Containment Zone - HELD THAT:- Mere plain reading of the Rule 15 and 153 shows that the time appointed or fixed by or under these rules can be extended but herein the case in hand, the time for completion of the CIRP is not fixed under the NCLT rules rather it is fixed under the IBC, 2016. Section 12 of IBC, 2016 makes a provision for completion of CIRP and in view of second proviso of Section 12 Sub Section 3 of the IBC, 2016, the Insolvency Resolution Process shall mandatorily be completed within the period of 330 days from the insolvency commencement date - this Adjudicating Authority is not empowered to extend or exclude the period under Rule 15 and 153 of the NCLT Rules, 2016 - The period of 11 days commencing from 17.07.2020 to 27.07.2020 is excluded on the ground that the Registered office of The Resolution Professional was situated within the Containment Zone at Vaishali Sector-1, Ghaziabad. Seeking further exclusion of 60 days period for lockdown and Covid-19 Pandemic in view of infection in employees intermittent during the period of lockdown - HELD THAT:- The applicant has failed to produce any document to show that two employees whose Covid-19 reports have been enclosed by the applicant were the employees of the applicant and they played a vital role in completing the CIRP period and in their absence, it could not be possible to proceed further in the CIRP. Therefore, on the ground of infection to the employees during the period of lockdown, the prayer of the applicant to exclude the period of 60 days is not liable to be accepted. Application disposed off.
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