TaxTMI 
TaxTMI 
2021 (2) TMI 832
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....ingly. IA No.373/2020 The instant IA has been filed by the Resolution Professional of KUT Energy Private Limited, the Corporate Debtor, under Section 12 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016 seeking extension of CIRP period by 90 days more beyond 180 days after excluding the lockdown period. 2. It is submitted that the CIRP proceedings were initiated against the corporate debtor i.e. KUT Energy Private Limited on 07.10.2019 when CP (IB) No.392/Chd/HP/2018 was admitted and IRP was appointed to conduct the CIRP. Initially the IRP and thereafter the RP took all necessary steps for resolution of the corporate debtor. The period of 180 days were to be completed on 04.04.2020. However, in view of the intervening l....
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....eedings. We are exercising this power under Article 142 read with Article 141 of the Constitution of India and declare that this order is a binding order within the meaning of Article 141 on all Courts/Tribunals and authorities. This order may be brought to the notice of all High Courts for being communicated to all subordinate Courts/Tribunals within their respective jurisdiction. Issue notice to all the Registrars General of the High Courts, returnable in four weeks." 5. The Hon'ble National Company Law Appellate Tribunal in Suo Moto-Company Appeal (AT) (Insolvency) No.01 of 2020. Vide order dated 30.03.2020, observed as under:- "Upon requests for urgent listing of cases having been made telephonically to Registrar of this Ap....
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....the country, where the registered office of the Corporate Debtor may be located, shall be excluded for the purpose of counting of the period for 'Resolution Process under Section 12 of the Insolvency and Bankruptcy Code, 2016, in all cases where 'Corporate Insolvency Resolution Process' has been initiated and pending before any Bench of the National Company Law Tribunal or in Appeal before this Appellate Tribunal. (2) It is further ordered that any interim order/ stay order passed by this Appellate Tribunal in anyone or the other Appeal under Insolvency and Bankruptcy Code, 2016 shall continue till next date of hearing, which may be notified later. A copy of this order be communicated to Registrar of National Company Law Tri....