2020 (11) TMI 354

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....n the manner as directed by this Hon'ble Tribunal: and (ii) To consider excluding time period between February 20, 2020 to November, 30, 2020 from calculation of 365 days/One year as provided under Regulation 44 of the IBBI (Liquidation Process) Regulations, 2016. 2. The applicant in this MA was appointed as Liquidator by this Tribunal vide order dated 21.10.2019 in IBA/258/KOB/2019 filed by the Financial Creditor - M/s Boon Investments and Trading Company Pvt Limited against the Corporate Debtor - M/s. Excel Glasses Limited and also ordered to liquidate the company under Section 33(1)(a) of the IBC, 2016. 3. The applicant submitted that pursuant to the initiation of the Liquidation process a public announcement for submission of claims....

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....htra Government taking into consideration of the aforesaid declaration of the Government of India, has extended the general lockdown till September, 30, 2020, where the applicant resides and operates. He has further stated that when a similar situation arisen, the NCLT, Chandigarh Bench in the case of SBI Vs. Agro Dutch Industries Limited excluded the lockdown period in respect of CIRP proceedings. Regulation 57A added vide Notification No. IBBI/2020-21/GN /REG060 dated April 20, 2020 w.e.f. April, 17, 2020 sates: "Subject to the provisions of the Code, the period of lockdown imposed by the Central Government in the wake of Covid 19 outbreak shall not be counted for the purposes of computation of the time line for any task that could not ....

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....cess in his report as under: (a) The stay granted by the Hon'ble High Court in OP(C) No.484/2020, which was vacated on 13.7.2020. (b) The applicant was prevented from carrying out the duties, due to the lockdown imposed throughout India including Maharashtra State, where the Applicant is residing, which place was a containment zone for long. 8. In the Report No.100/KOB/2020, regarding 'E' Auction conducted on 30th September, 2020 it is stated that "No bid has come for Asset Blocks numbered 1 to4 ie., Land and Building and Plant and Machinery. There were many interested buyers who had shown interest, however one of the reasons for the bid not being received could be due to a demonstration in front of the factory on 4.9.2020 by few workm....