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TMI Blog2021 (6) TMI 162X X X X Extracts X X X X X X X X Extracts X X X X ..... olvency Resolution Process (CIRP), because of the reasons set forth and grounds made in the IA No. 1350 of 2020 and IA No. 1365 of 2020 in CP No. 2979 of 2018. 2. The Applicant RP also made prayer that since the period of 180 days of completing of CIRP from the date of commencement of the CIRP i.e. the date of the admission of the present Insolvency and Bankruptcy Petition which is 16.12.2019 is already come to an end during the period of lockdown which started from 23.03.2020. Hence, the Applicant also made prayer for the further extension of the period of CIRP for 90 days beyond 180 days after giving exclusion of the period during the lockdown due to Covid-19 situations. Hence the present applications were preferred under section 12(2) a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and IA 1365 of 2020 can be considered positively and deserves to be allowed. 6. In addition to the above and during the course of hearing as a subsequent development took place in the matter, the highest Court of land Hon'ble Supreme Court of India, in its Suo Motu Writ Petition (Civil) No. 3 of 2020 has already taken care of the interest of all the litigant/stakeholder and gave general exclusion of time for the purpose of counting the period of limitation in any legal proceeding pending before Court/Tribunal and also has condoned the delay in filing application. 7. The Hon'ble Supreme Court of India has already pleased to held and declares as such "That in matter/proceeding where limitation would have been expired during the per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng. The period from 15.03.2020 till 14.03.2021 shall stand excluded. Consequently, the balance period of limitation remaining as on 15.03.2020, if any, shall become available with effect from 15.03.2021. 2. In cases where the limitation would have expired during the period between 15.03.2020 till 14.03.2021, notwithstanding the actual balance period of limitation remaining, all persons shall have a limitation period of 90 days from 15.03.2021. In the event the actual balance period of limitation remaining, with effect from 15.03.2021, is greater than 90 days, that longer period shall apply ". 10. By following the aforesaid decision of the Hon'ble Supreme Court, the present IA No. 1350 of 2020 and IA No. 1365 of 2020 in CP No. 2979 of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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