2019 (11) TMI 1168

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....ime period in the CIRP lost in the appointment of Resolution Professional and in the litigation due to non-cooperation by the suspended Board of Directors during Corporate Insolvency Resolution Process (CIRP) i.e. from 06.03.2019 to 06.06.2019. In view of the above, this application is filed to exclude a period of 105 days from a period of 270 days of CIRP. 2. It was stated by the learned counsel for the applicant i.e. the RP that in the process of admission of application of the Operational Creditor, this Tribunal appointed Mr. Brij Kishor Sharma as IRP on 20.09.2018. The IRP in terms of the provisions of IBC, 2016 and IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 made the public announcement and invited the....

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....were maintained by the Corporate Debtor at the given address and the same was informed to the members of the suspended Board of Directors over phone and email by the RP. 5. Thereafter, the RP along with his team members visited the office of IRP at Jaipur on 06.12.2018 to take charge from him as Resolution Professional. The IRP handed over all the files, documents and limited information as to the accounts of the Corporate Debtor available with him. Subsequently, the RP sent email dated 14.12.2018 to the suspended Director Mr. Yashdeep Sharma of the Corporate Debtor requesting to cooperate and to provide complete books of account of the Corporate Debtor in furtherance of the request dated 06.12.2018 made during his visit. However, the mail....

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....elay in Corporate Insolvency Resolution Process (CIRP) due to non-production of accounts with invoices of capital expenditure incurred by the Corporate Debtor. The RP further requested the Corporate Debtor to furnish the remaining information by 07.01.2019 The learned counsel for the RP further submits that the expression of interest was primarily published on 18.02.2019 due to delay in appointment of the RP and approval of the CIRP cost but no applicants applied for the same. In the meanwhile, as the period of 180 days of the CIRP process was ending on 23.03.2019 an extension was sought for a period of 90 days vide IA No. 65 of 2019 and it was allowed on 07.03.2019 by this Tribunal. 8. Subsequently, on 18.03.2019 once again the expression....

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....ed affidavit with the time line and number of days for exclusion and the corresponding reasons within one week with a copy in advance being served to the other side. Accordingly, the RP vide Diary No. 1396/2019, dated 29.07.2019 has filed an additional affidavit with additional documents as Annexure A-18. In the additional affidavit it was contended by the RP that the time lines and number of days being amended and restated for seeking indulgence of this Tribunal for consideration of the application as the days of delay is being recomputed and restated and filed an amended chart at Page-4 of the said affidavit. According to that chart, the total number of days of delay due to the stated reasons comes to 144 days as on 04.06.2019 and it is s....

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....llate Tribunal in Company Appeal (AT) (Insolvency) No. 185 of 2018 dated 27.04.2018(Quinn logistics India (P.) Ltd. v. Mack Soft Tech (P.) Ltd. c. The judgment of the Hon'ble National Company Law Appellate Tribunal in Company Appeal (AT) (Insolvency) No. 161 of 2018 dated 16.05.2018 (Velamur Varadan Anand v. Union Bank of India) d. The judgment of the Hon'ble National Company Law Tribunal, Chandigarh in CA No. 67/2018 in cp (1B) No. 60/ChWPB/2017 dated 04.05.2018 (Oasis Agro Infra Ltd., In re) e. The judgment of the Hon'ble National Company Law Tribunal, Allahabad Bench in CA No. 146/2019 in CP No. IB- 120/ALD/2017, dated 4-6-2019 (Rana Saria Poly Pack (P.) Ltd. v. Uniword Sugars (P.) Ltd.) f. The judgment of the Hon&#39....