2019 (7) TMI 835

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....th Company Appeal (AT) (Insolvency) No. 431 of 2019 - -<br>Insolvency & Bankruptcy<br>Mr S. J. Mukhopadhaya, Chairperson, Mr A. I. S. Cheema, Member (Judicial) And Mr Kanthi Narahari, Member (Technical) For The Appellant : Mr. Rajeev Ranjan, Sr. Advocate with Mr. Ranjan Kr. Pandey and Mr. Anuj Tiwari, Advocates For The Respondent : Mr. P. V. Dinesh and Mr. Ashwini Kumar Singh, Advocates for ....

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.... Code') was filed before the Adjudicating Authority on 29th August, 2018 but not decision was taken at once. It was allowed on 26th October, 2018 and the certified copy was served on Resolution Professional on 26th November, 2018 who joined on the same date. It is submitted that because of the aforesaid delay, though the period of Corporate Insolvency Resolution Process was extended on 17th Januar....

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....ss period, wherein only three days has been excluded. 3. Learned counsel for the Appellant submits that if the total period is properly counted, 89 days is the period during which no steps could be taken because of pending decision of removal of Interim Resolution Professional and joining of Resolution Professional. These approximately 89 days are to be excluded. 4. Mr. Ashwini Kumar Singh, ....

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....led on 29th August, 2018 and in the meantime Information Memorandum could not be prepared and the subsequent Resolution Professional joined on 26th November, 2018 on receipt of the certified copy of the Order, we allow the prayer and exclude 89 days for the purpose of counting the period of 270 days for Corporate Insolvency Resolution Process. In the result, the impugned order dated 27th March, 20....