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2021 (9) TMI 1206 - AT - Insolvency and BankruptcyPermission for exclusion of a period of 146 days pursuant to the stay granted by the Hon’ble NCLAT - stay was granted on the constitution of CoC so that it could finalise the settlement - HELD THAT:- There aredirections for keeping the Corporate Debtor as a ‘going concern’. Therefore, there are no strength in the argument of the Ld. Counsel of Appellant that the orders/directors are only contained in this paragraph which is reproduced above and it does not contain reference to stay for constitution of CoC. Respondent No. 1 (Resolution Professional) has submitted that the IRP received the order dated 23.7.2020 of Hon’ble NCLAT on 27.7.2020 from ICICI Bank, which is member of the CoC. Thereafter, as per directions contained in this order, the IRP constituted the CoC on 29.7.2020 - the order passed by the Adjudicating Authority regarding exclusion of period from 4.3.2020 till 27.7.2020 (146 days) pursuant to the stay imposed by Hon’ble NCLAT is in accordance with law and requires no intervention. Appeal dismissed.
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