2019 (3) TMI 1190

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....d Board of Directors : Mr. S. Santhanam Swaminadhan and Ms. Nishtha Khurana, Advocate For The Bank of India : Mr. I.P.S. Oberoi, Advocate ORDER The 'Resolution Professional' of 'Dighi Port Limited' filed a Miscellaneous Application before the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench seeking excluding the period from the date of pronouncement of the order and communication of the order to the 'Interim Resolution Professional' (IRP) i.e. from 25th March, 2018 to 6th April, 2018 for calculating the total period of 270 days of 'corporate insolvency resolution process'. The Adjudicating Authority noticed that the petition under Section 9 preferred by the 'DBM Geotechnics & Constructions Ltd.' (Operational Cre....

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....turvedi, learned counsel appearing on behalf of the 'DBM Geotechnics & Construction Ltd.' ('Operational Creditor') opposed the prayer though we pointed out that if exclusion is not allowed, the 'Corporate Debtor' may be liquidated. 5. We have heard the learned counsel for the parties and perused the record. 6. It is not in dispute that the 'Committee of Creditors' decided to appoint Mr. Shailen Shah, as a Resolution Professional in place of Ms. Purnima Dhiraj Shetty. The said decision was approved by the Adjudicating Authority on 6th August, 2018 and communicated to the appellant on 16th August, 2018 and he joined on the same date. 7. In 'Quinn Logistics India Pvt. Ltd.' (supra) this Appellate Tribunal taking into consideration for....

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.... of the period, if further period is allowed the total number of days cannot exceed 270 days which is the maximum time limit prescribed under the Code." 8. As it appears that the earlier 'Resolution Professional' had not taken any effective steps due to which the 'Committee of Creditors' recommended to appoint the appellant on 15th June, 2018, and the appellant was intimated by the Adjudicating Authority on 16th August, 2018 and the matter is remained pending before the Adjudicating Authority for more than a month after which the order was passed on 6th August, 2018, we are of the view that the period between filing application for approval of the name of the appellant and date of communication of the order i.e.16th August, 2018 should b....