9911796707
TMI Blog2020 (10) TMI 268X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 12(2) of the Insolvency and Bankruptcy Code, 2016, inter-alia seeking the following reliefs-- a. To exclude the period of 103 days from 01.11.2019 till 11.02.2020 and extend the CIRP process by another 103 days,' b. To grant such other reliefs which are deemed fit and necessary in the nature an circumstances of the case and thus render justice. 2. Brief facts of the case are as follows: 2.1 That this Adjudicating Authority admitted the Application filed under section 7 of the IBC, 2016 vide its order dated 04.04.2019 in CP (IB) No. 666/7/HDB/2018 and appointed Mr. T. Sathisan as Interim Resolution Professional (IRP). Later he was appointed as Resolution Professional. 2.2 That CoC in its 3rd meeting held on 09.07.20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the previous application, the Resolution Plan is under consideration and the moment this issue with regard to the voting share could be determined by this Adjudicating Authority in IA No. 967/2019, the Applicant herein can put the Resolution Plan to voting. 3. Stating the above facts and circumstances, the applicant prayed for exclusion of 103 days from 01.11.2019 till 11.02.2020, when the issue with regard to the voting share was pending consideration by this Adjudicating Authority. 4. Heard and perused the record. 5. The present application is filed for seeking exclusion of 103 days' time period on the ground that an application against RP vide IA No. 967/2019, challenging the admission of claims of SASF and for revision in the v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal or order of the Appellate Tribunal is reversed by the Hon'ble Supreme Court and corporate insolvency resolution process is restored. (vi) Any other circumstances which justifies exclusion of certain period. However, after exclusion of the period, if further period is allowed the total number of days cannot exceed 270 days which is the maximum time limit prescribed under the Code." 7. In view of the facts and circumstances, the instant case falls under the parameter (vi) of the judgment of Hon'ble NCLAT in Quinn Logistics supra. As the process of CIRP was restrained on account of disputes regarding voting share amongst the members of CoC which required adjudication by this Adjudicating Authority, the instant case will squar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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