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2022 (7) TMI 197 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHTime Limitation - Seeking the exclusion of 147 days from 10.12.2021 (visit of registered office by RP) to 07.05.2022 (statutory auditor provided some financial information) from the CIRP period of 180 days as envisaged under IBC on account of time consumed due to non cooperation by the suspended directors and management of the corporate debtor - HELD THAT:- The Applicant/Resolution Professional could not function because of non-cooperation of the Promoters of the Corporate Debtor. The records were not supplied to applicant nor the management was handed over to the applicant, moreover the whereabouts of the corporate debtor is not known corporate debtor is maintaining a dummy registered office - it is observed that the applicant had made all the possible endeavours in discharging his duties as a resolution professional and after the documents from the statutory auditor were received, the applicant is in a position to run the Corporate insolvency resolution process of the corporate debtor including preparation of the information memorandum, invite expression of Interest and other duties as envisaged in the code. The exclusion of 147 days is allowed for the purpose of counting the period of 'Corporate Insolvency Resolution Process' of 180 days from 10.12.2021 (visit of registered office by RP) to 07.05.2022 (statutory auditor provided some financial information) from the CIRP period of 180 days as envisaged under IBC on account of time consumed due to non cooperation by the suspended directors to enable the 'Resolution Professional'/'Committee of Creditors' to complete the 'Corporate Insolvency Resolution Process'. Petition allowed.
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