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2020 (9) TMI 796 - Tri - Insolvency and BankruptcyImpleadment of application - condonation of delay - whether the Applicant is a proper and necessary party to be impleaded in the main Company Petition, whether it has come with a bona-fide claim and reasons for seeking extension of time lines in the CIRP; and whether any prima facie case is made out on merits for any interference to be made by this Authority? HELD THAT:- Basic facts about the commencement of the CIRP vide order dated 27.09.2019, steps taken by the RP, Public Announcement seeking/invitation for expression of interest, the last date for the same, the treatment of the Applicant's EOI etc. are not in dispute and are part of record. However, the Applicant pleads ignorance of the same and contends that the CIRP started only in the first week of February 2020. This assertion we find to be patently untenable as the Code itself prescribes that the CIRP commences on the date the Petition u/s 7 or 9, as the case may be, is admitted, which in this case was 27.09.2019 - Further, the Applicant has made an even more unacceptable averment that the Executive Chairman was busy, and was frequently travelling abroad and missed the newspaper publication calling for EOIs and was unaware of the last dates i.e. 26.12.2019 and 09.02.2019 for submission of EOI and Resolution Plan respectively. This is a patently bald statement without any merit whatsoever, keeping in view the strict timelines provided in the Code for completion of the CIRP. The same is liable to be rejected. Application dismissed.
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