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2021 (10) TMI 812 - Tri - Insolvency and BankruptcySeeking an exclusion of 197 days on account of, inter-alia, delays caused as a result of restrictions and lockdowns imposed because of Covid-19 and time taken in replacement of the interim resolution professional - HELD THAT:- It is stated by the Applicant that homebuyers constitute 50.38% of the CoC, on account of being dissatisfied with the IRP, voted against his confirmation as RP during the 1st CoC meeting held on 02.12.2020. Only a minority of 45.35% of the CoC voted in favour of appointing the IRP as the RP of the Corporate Debtor, falling short of the 66% threshold. Subsequently, the confirmation of the Applicant as the RP was put for vote during the 5th CoC meeting held on 04.05.2021, which was duly approved by 68.87% of the CoC. The appointment of the Applicant as the RP was eventually confirmed by this Hon'ble Adjudicating Authority vide its order dated 09.06.2021. This bench, after taking into consideration the facts and circumstances of the present case, is satisfied that the exclusion being sought by RP is bona fide and the same needs to be granted. Hence, the period between 06.12.2020 to 02.01.2021 (27 days), 17.03.2021 to 30.04.2021 (44 days), 01.05.2021 to 31.05.2021 (30 days), 01.05.2021 to 05.07.2021 (5 days excluding the overlap period), on account of restrictions imposed by the Noida police, Government of Uttar Pradesh and the Government of Delhi, stands excluded from the CIRP of the Corporate Debtor - Further, the exclusion being sought for the intervening time period for confirmation & replacement of RP and on account of extension of time for Form G, such exclusion cannot be granted as that period is to be calculated in the CIRP period of the corporate debtor. Application disposed off.
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