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TMI Blog2020 (9) TMI 552X X X X Extracts X X X X X X X X Extracts X X X X ..... Borah, Member (J) 1. This MA/68/KOB/2020 has been filed by the Resolution Professional appointed by this Tribunal, under Section 40(2) of Corporate Insolvency Regulation Process and as per Section 12 of IBC 2016 for extension of time period of Corporate Insolvency Resolution Process (CIRP). 2. The application for Corporate Insolvency Resolution Process filed by Federal Bank Ltd (Financial Credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... directed not to constitute the COC until further orders and to maintain the company as a going concern with the assistance of the Suspended Board of Directors. The NCLAT dismissed the above Company Appeal vide order dated 27.01.2020. 4. The CIRP was resumed since 07.02.2020 and the first COC was held on 17.02.2020. As per Minutes of 2nd meeting of the COC held on 16.03.2020 resolved with 100% vot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lications/suits/appeals/all other proceedings within the period of 1imitation prescribed under the general law of Limitation or under Special Laws (both Central and /or State).To obviate such difficulties and to ensure that lawyers/litigants do not have to come physically to file such proceedings in respective Courts/ Tribunals across the country including this Court, it is hereby ordered that a p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in these regulations, but subject to the provisions in the Code, the period of lockdown imposed by the Central Government in the wake of COVID-19 outbreak shall not be counted for the purposes of the time-line for any activity that could not be completed due to such lockdown, in relation to a corporate insolvency resolution process.". 8. In the light of the above judgment of the Hon'ble Su ..... X X X X Extracts X X X X X X X X Extracts X X X X
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