2021 (1) TMI 142

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....d Counsel for the Resolution Applicant 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 d....

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....en the State of Kerala and State of Karnataka, 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. ....

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....tions may not be applicable to the Applicant and in the 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 Counse....

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....n suo-motu Company Appeal (AT) (Insolvency) No.01 of 2020 following the matter of "Quinn Logistics India Pvt. Ltd. -vs- Mack Soft Tech Pvt. Ltd. in Company Appeal (AT) (Insolvency) No.185 of 2018" decided on 8th May, 2018" in relation to the exclusion of the time period in relation to CIRP analogy being adopted in the implementation of the Resolution Plan, this Tribunal allows the Application by e....