2021 (1) TMI 142

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....t Ravi Rajagopalan, Advocate is present through video conferencing mode. IA/573/IB/2020 is filed by the Resolution Applicant seeking for an urgent hearing of IA/572/IB/2020. IA/572/IB/2020 is an Application moved by the successful Resolution Applicant in relation to the implementation of the Resolution Plan which was approved by this Tribunal vide order dated 04.03.2020. During the course of su....

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....the officials of the Resolution Applicant were not in a position to travel and take over the assets of the Corporate Debtor. However, presently such impediment is not prevalent and in the circumstances the Resolution Applicant is confident of implementing the Resolution Plan, if time is extended by this Tribunal as sought for in the Application. Counsel for the Resolution Applicant also points o....

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.... circumstances the inherent powers of this Tribunal under Rule 11 of NCLT Rules, 2016 to be exercised taking into consideration the decision of the Hon'ble Supreme Court of India in the matter of Swiss Ribbons Pvt. Ltd. & Anr. versus Union of India & Ors. filed in Writ Petition (Civil) No. 99 of 2018, It is rightly pointed out by Counsel for the Applicant in relation to the implementation of ....