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2018 (9) TMI 204 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHICorporate Insolvency Resolution Process - Period of limitation - Held that:- The right to apply under Section 9 accrued to Respondent only after the Insolvency and Bankruptcy Code, 2016 came into force, i.e. 1st December, 2016, the application under Section 9 was preferred within three years, therefore it was not barred by limitation. There was another issue raised by the Corporate Debtor that the goods supplied was of inferior quality, but no such dispute was raised by the Appellant prior to issuance of notice under Section 8(1). The question of quality was raised by the Appellant only when reply under Section 8(2) was filed by the Corporate Debtor. Therefore, that cannot be taken into consideration to annul the initiation of Corporate Insolvency Resolution Process. Hon’ble Supreme Court has set aside earlier order passed by this Appellate Tribunal on 13th October, 2017, the Corporate Insolvency Resolution Process initiated against ‘M/s Jord Engineers India Ltd.’ revived. The Resolution Professional has taken charge of the same as ordered by the Adjudicating Authority and the Moratorium order etc. passed by the Adjudicating Authority is continuing. However, we make it clear that the period of pendency of the appeal before this Appellate Tribunal and then before the Hon’ble Supreme Court, till its disposal i.e. from 30th August, 2017 till today (date of order) cannot be counted and therefore should be excluded from counting of the period of 180 days or 270 days. The Adjudicating Authority will now ensure that the Corporate Insolvency Resolution Process concludes as per the I&B Code. The appeal stands disposed of. No costs.
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