TMI Blog2021 (5) TMI 713X X X X Extracts X X X X X X X X Extracts X X X X ..... unsel for the RP. The RP has been making sincere efforts in this direction. The overall time after extension would be within 330 days. If not allowed the Corporate Debtor would slip into liquidation, which would be the last and avoidable option. Hence, in exercise of the inherent powers conferred upon us by Section 60 of the Code. Exclusion of 60 days from the timeline of CIRP process period of the Corporate Debtor, which ended on 20th February, 2021, is hereby granted - Application allowed. - I.A. No. 81 of 2021 in C.P. (IB) No. 286/BB/2019 - - - Dated:- 19-3-2021 - Rajeswara Rao Vittanala, Member (J) And Ashutosh Chandra, Member (T) For the Appellant : Party-in-Person ORDER Ashutosh Chandra, Member (T) 1. I.A. No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ration of Corporate Debtor so that it would help the prospective Resolution Applicants for submitting of Resolution Plan, for the revival of the Corporate Debtor since the Resolution Applicants wanted to visit the premises, before submitting the plan. (4) The Resolution Professional informed the Committee that 90 days of extension and 161 days of exclusion due to Covid-19 lockdown and high Court Stay was asked for in the earlier I.A No. 414 of 2020 and the NCLT on 27.11.2020 had given a total of 161 days exclusion and 90 days of extension, which would end on 20.02.2021. Further, RP mentioned that there was a need to request the NCLT, Bangalore to seek exclusion for non-cooperation of Corporate Debtor. (5) The Resolution Profession ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... visions of the Code and Rules made thereunder. 4. As stated supra, the material facts of the issue are not in dispute, and the law on the issue is also settled by the judgments. The Hon'ble Apex Court, in its decision in Committee of Creditors of Essar Steel India Limited Vs. Satish Kumar Gupta Ors., has conferred the power on the Adjudicating Authority to consider the issue of exclusion of time from the statutory period prescribed under the provisions of the Code, based on sufficient justification. The Hon'ble NCLAT also considered the issue of granting exclusion of time in appropriate cases, in the matter of Quinn Logistics India Pvt. Ltd. Vs. Mack Soft Tech Pvt. Ltd., Company Appeal (AT) (Insolvency) No. 185 of 2018 especial ..... X X X X Extracts X X X X X X X X Extracts X X X X
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