TMI Blog2021 (6) TMI 119X X X X Extracts X X X X X X X X Extracts X X X X ..... nd the current stage of CIRP in respect of M/s. PPS Enviro Power Pvt. Ltd. - IA No. 63 of 2021 in C.P. (IB) No. 407/07/HDB/2018 - - - Dated:- 16-3-2021 - Bhaskara Pantula Mohan, Member (J) And Veera Brahma Rao Arekapudi, Member (T) For the Appellant : Manoj Kumar Mishra and Sarvani Desiraju ORDER Veera Brahma Rao Arekapudi, Member (T) 1. The present Application IA No. 63/2021 in CP(IB) No. 407/7/HDB/2018 is filed by the Resolution Professional of M/s. PPS Enviro Power Pvt. Ltd. under Section 60(5) of Insolvency Bankruptcy Code, 2016 praying the Tribunal to grant exclusion of further 15 days from the period of Corporate Insolvency Resolution Process which is expiring on 14.01.2021. 2. The averments made in the appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he value and also averred that there is a fair chance of maximum recovery for the dues of stakeholders as well as a fair chance to make the Corporate Debtor run which will ensure employment to hundreds of workers. vi. It is averred that the Applicant called the 21st meeting of Committee of Creditors (COC) on 11.01.2021 for casting the vote by members of COC on the Resolution Plan by 12.01.2021 so that an application for the approval of Resolution Plan be made on or before 14.01.2021. vii. In the 21st meeting of COC held on 11.01.2021, the COC informed the Resolution Professional to seek further time of 15 working days. Accordingly, the Resolution Professional made an application for exclusion of 15 days. It is also averred that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red; vi. Any other circumstances which justifies exclusion of certain period. ix. It is averred that the exclusion of 15 working days gets attracted with the clause (vi) given as any other circumstances which justifies exclusion of certain period x. It is averred if these 15 working days are excluded alongwith other exclusions, the total period of CIRP process shall be restricted to 330 days (excluding lockdown period). It is also averred that the Government of Tamil Nadu issued a G.O.Ms. No. 673 Revenue and Disaster Management (D.M. IV) Department, dated 30.11.2020 extending the lockdown period till 31.12.2020. If the lockdown period excludes from 25.03.2020 to 31.12.2020, the CIRP period will be over on 15.02.2021. A copy ..... X X X X Extracts X X X X X X X X Extracts X X X X
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