TMI Blog2019 (7) TMI 1906X X X X Extracts X X X X X X X X Extracts X X X X ..... and 18th January, 2019. The 'Resolution Plan' of the Appellant as was placed was not accepted - no case is made out for exclusion of any of the period for the purpose of counting 270 days which stands completed on passing the impugned order of liquidation. Appeal disposed off. - Company Appeal (AT) (Insolvency) No. 282 of 2019 - - - Dated:- 31-7-2019 - S.J. Mukhopadhaya Chairperson and A.I.S. Cheema, Kanthi Narahari For the Appellant: - Mr. Abhishek Anand, Advocate and Mr. Raman Aggarwal, C.A. For the Respondent: - Mr. Chandrashekhar, Advocate. Mr. Dinkar Singh, Advocate, Mr. Ashutosh Kumar and Mr. Pulkit Agrawal, Advocates, Mr. Brijesh Kumar Tamber and Mr. Khyati, Advocates, Mr. Sidhartha Barua, Advocate, Mr. P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re- consider the revised plan if the aforesaid period is excluded. However, such submission has been opposed by learned counsel appearing on behalf of 'Stressed Assets Stabilization Fund'-(3rd Respondent), 'SBI Funds Management Pvt. Ltd.'-(13th Respondent), 'Specified Undertaking of the UnitTrust of India'-(4th Respondent), 'UTI Trustee Company Pvt. Ltd.'-(11th Respondent) and 'ICICI Bank Debenture Trustee'-(7th Respondent). 4. From the record we find that the 'Committee of Creditors' with its voting shares of 88.92 percent decided that the 'Resolution Professional' should file application for liquidation under Section 33(2). Now some of them want exclusion to again re-consider one ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Appellant as was placed was not accepted. 9. In view of the aforesaid facts, we find that no case is made out for exclusion of any of the period for the purpose of counting 270 days which stands completed on passing the impugned order of liquidation. However, this order will not come in the way of the Liquidator who is required to follow the provisions of Sections 35, 36, 37, 38, 39 40 of the 'I B Code' and Section 230 of the Companies Act as ordered by this Appellate Tribunal passed in Y. Shivram Prasad Vs. S. Dhanapal Ors.─ Company Appeal (AT) (Insolvency) No. 224 of 2018 . 10. The Liquidator is also required to ensure that during the liquidation the 'Corporate Debtor' remains a going concern and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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