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2019 (7) TMI 1424 - NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH, HYDERABADExclusion of certain period from CIRP - revival of mining lease - delay in passing revival order - exclusion of period of 135 days from 27.08.2018 to 08.01.2019 and in addition to it the period of 147 days starting from 09.11.2018 to 04.04.2019 from the CIRP of the corporate debtor - grounds on which exclusion is sought that Government of Telangana revived the mining lease under Rule 20(6) of Minerals (other than Atomic & Hydro Carbons Energy Minerals) Rules, 2016 - HELD THAT:- Pendency of IA No. 551/2018 is not a ground for exclusion. It is filed against decision of RP in admitting the claims of certain financial creditors. There is ample time for any resolution applicant to submit resolution plan on or after 10.01.2019. 270 days already expired from the date of admission. No bidder came forward to bid for corporate debtor company. Had there been really resolution applicants for acquiring the corporate debtor company. Resolution plan would have been filed. When ample time is given for Prospective resolution applicants yet none filed any resolution plan to acquire corporate debtor company and to make it on going concern. Mere delay in passing revival order by issuing GO for revival of the Leases. It cannot be said that Prospective Resolution Applicants are not able to file resolution plan with RP on that ground alone. Till date no one came forward to file Resolution plan for the corporate debtor. There are absolutely no justifiable grounds for extending certain period as prayed from CIRP. Already application was filed by RP for passing order of liquidation following approval by CoC. The two grounds referred to in the application basing on which exclusion is sought are not at all sufficient grounds for exclusion of CIRP. Applicant also not filed any resolution passed by CoC authorising to file application for exclusion. There are absolutely no grounds to exclude the time as prayed - application dismissed.
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