TMI Blog2021 (6) TMI 193X X X X Extracts X X X X X X X X Extracts X X X X ..... Adjudicating Authority is of the view that as per Regulation 47AA IBBI (Liquidation Process) Regulations, 2016, the period from 24.03.2020 to 31.10.2020 are excluded from the time frame of Liquidation period. Application allowed. - IA/50(CHE)/2021 in IBA/838/2019 - - - Dated:- 5-5-2021 - R. Sucharitha, Member (J) And B. Anil Kumar, Member (T) For the Appellant : S. Sathyanarayanan, Adv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Liquidator of the Corporate Debtor. 3. It is further submitted that the Corporate Debtor initiated an arbitration proceeding at New Delhi in the year 2008 against NTPC Limited (respondent in the arbitration proceeding) for breach of contract for a total damages claim of ₹ 9.71 Crores and in respect of which NTPC Limited made an alleged counter claim of ₹ 8.74 along with interest. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be completed within one year from the date of order i.e. 10.12.2019. Due to COVID-19 pandemic, the liquidator seeks another 6 months extension to complete the liquidation process. 4. Hence, the Applicant seeks an order excluding a period of 221 days in computing the Liquidation period from 24.03.2020 to 31.10.2020 as per the provisions of Regulation 47A of the IBBI (Liquidation Process) Regul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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