TMI Blog2019 (6) TMI 1493X X X X Extracts X X X X X X X X Extracts X X X X ..... anaging Director of the Board of Directors as party Respondent No. 2. Punjab National Bank, Lead Bank of the Committee of Creditors be also impleaded as party Respondent No.3. Necessary corrections be made in the cause title and other pages of the paper book. Let notice be issued on newly impleaded Respondent No. 2 - Managing Director of the Board of Directors (by name) and Respondent No. 3 - P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar that any other circumstances which justify the exclusion of a certain period can be taken into account. In the present case it is stated that the erstwhile Resolution Professional did not function for 145 days due to non-cooperation by the Suspended (Board of Directors). It is submitted that the period of 145 day is to be excluded as decided by the Committee of Creditors so that they may consid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l. 4. Post the case 'for orders' on 1st July, 2019. The appeal may be disposed of on the next date. 5. Until further order, the Adjudicating Authority will not pass any order of Liquidation, if not yet passed. 6. In the meantime, the Interim Resolution Professional will ensure that the company remains going concern and will take assistance of the (suspended) Board of Directors. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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