TMI Blog2021 (7) TMI 437X X X X Extracts X X X X X X X X Extracts X X X X ..... from today. Further the period consumed during the lockdown period also needs to be excluded/exempted from counting the period prescribed for completing the process of liquidation as per the suo moto decision of Hon'ble Supreme Court in IN RE COGNIZANCE FOR EXTENSION OF LIMITATION [ 2021 (5) TMI 564 - SC ORDER ] by extending/exempting the period from 15th March 2020 till 14th March 2021 and again now until further order. Application allowed. - I.A. No. 2121/MB/C-II/2020 in C.P. (IB) No. 1413/MB/C-II/2018 - - - Dated:- 8-6-2021 - Harihar Prakash Chaturvedi, Member (J) And Ravikumar Duraisamy, Member (T) For the Appellant : Aniruth Purusothaman, Advocate and Vikas Prakash Gupta, Liquidator ORDER Ravikumar Duraisamy, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ventures Private Limited Vs. Tirupati Commodities Impex Private Limited, thereby initiating CIRP of the Corporate Debtor wherein Mr. Devendra Jain was appointed as Interim Resolution Professional. 3. That this Tribunal had passed an Order on 15.11.2018 wherein Mr. Devendra Jain, Interim Resolution Professional of the Corporate Debtor was replaced by the Applicant as the Resolution Professional of the Corporate Debtor. 4. That this Tribunal had passed an order on 01.10.2019 u/s. 33 of the IBC, 2016 admitting M.A. 309 of 2019 in CP(IB)1413(MB)/2018 filed by the Applicant thereby initiating Liquidation Proceedings against the Corporate Debtor wherein the Applicant was appointed as the Liquidator. 5. That the Liquidator caused Public A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exclusion of 232 days from calculation of period required for completing the CIRP of the Corporate Debtor. 10. We have duly considered the above narrated facts and circumstances of the present case and examined the merits of the present IA. 11. Having heard the Learned Counsel for the applicant and the applicant appeared in person we are satisfied with the submissions of the applicant that the liquidation period in respect of present Corporate Debtor needs to be extended. Hence the present IA is partly allowed. The liquidation period is further extended by six months from today. Further the period consumed during the lockdown period also needs to be excluded/exempted from counting the period prescribed for completing the process of li ..... X X X X Extracts X X X X X X X X Extracts X X X X
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