9911796707
TMI Blog2020 (12) TMI 864X X X X Extracts X X X X X X X X Extracts X X X X ..... s before Securities and Exchange Board of India. 2. The averments apropos to the Application in brief are that:- 2.1 The Adjudicating Authority vide its order dated 04.09.2019 on a Company Petition filed by IFCI Limited, Financial Creditor u/s 7 of the Insolvency and Bankruptcy Code read with Rule 5 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 directed initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor Company wherein the Applicant herein was appointed as Interim Resolution Professional (IRP). Thereafter he was confirmed as Resolution Professional. 2.2 It is stated by the Applicant that, during the 5th CoC meeting, the members after due deliberat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsolidated) for the year ended 31st March, 2020 within the extended timelines i.e., 31st July, 2020 and Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including those detailed in Annexure-II especially for compliance during the months of July, August and September, 2020 since another application seeking order of liquidation was pending before this Tribunal. 3. We heard the Counsel for Applicant via video conferencing and perused the material documents filed in support of his contention. This is an Application filed by the Applicant, who is the Resolution Professional appointed for the Corporate Debtor. As seen from the records, this Application is filed when another Application bearing IA N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e end of financial year 31st July 8 33 Financial Results Quarterly Within 45 days from quarter end. 14th Aug. 5. We heard the Counsel for Applicant through video-conference. This is an Application filed by Resolution Professional appointed for M/s KSK Energy Ventures Limited, under Section 60 (5) of Insolvency & Bankruptcy Code, 2016, R/w Rule 11 of NCLT Rules, 2016 seeking condonation of time for filing statutory compliances with the Securities and Exchange Board of India as required under Regulation 3, 24A and all other applicable Regulations of SEBI (Listing Obligations and Disclosure Requirements) since the Company is a listed Company on NSE and BSE, primarily on account of the disruption caused owing to Covid-19 induced l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eserves favourable consideration. Now that the Liquidation order is passed by the Tribunal on 02.11.2020, we can direct the Applicant to comply with the statutory compliance during the months of July, August and September, 2020 by granting some additional time. 8. As a sequel to the above, by exercising powers conferred on this Tribunal under Section 60 (5) of the Insolvency & Bankruptcy Code, 2016, we allow the application and pass the following orders:- 8.1 Extend the time limit till 31.03.2021 for filing of audited financial results (standalone & consolidated) for the year ended 31.03.2020 with SEBI. 8.2 Extend the time till 31.03.2021 for complying the provisions of Regulation 24A and all other applicable Regulation ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
