2021 (6) TMI 119

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....cy Code, 2016 praying the Tribunal to grant exclusion of further 15 days from the period of Corporate Insolvency Resolution Process which is expiring on 14.01.2021. 2. The averments made in the application filed by the Resolution Professional/Applicant herein are as follows: i. It is averred that the Petition for initiation of Corporate Insolvency Resolution Process (CIRP) filed by State Bank of India/Financial Creditor against M/s. PPS Enviro Power Pvt. Ltd./Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "I&B Code") r/w Rule 4 of the Insolvency and Bankruptcy (Application to the Adjudicating Authority) Rules, 2016 was admitted by this Tribunal on 13.08.2019 and appointed....

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....ing of COC held on 11.01.2021, the COC informed the Resolution Professional to seek further time of 15 working days. Accordingly, the Resolution Professional made an application for exclusion of 15 days. It is also averred that the additional time being sought also emanates due to the fact that there are various holidays during this period in the State of Tamil Nadu where office of the Financial Creditor is located and they are responsible for taking the major and substantial decisions. viii. RP relied on the Order of Hon'ble NCLAT in Company Appeal (AT) (Insolvency) No. 185 of 2018 in the matter of Quinn Logistics India Pvt. Ltd. vs. Mock Soft Tech Pvt. Ltd. and 2 Ors. i. If the Corporate Insolvency Resolution Process....

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....amil Nadu issued a G.O.Ms. No. 673 Revenue and Disaster Management (D.M. IV) Department, dated 30.11.2020 extending the lockdown period till 31.12.2020. If the lockdown period excludes from 25.03.2020 to 31.12.2020, the CIRP period will be over on 15.02.2021. A copy of the notification is shown as Annexure-4 of the application. xi. It is averred that the period of 15 working days from the CIRP is expiring on 14.01.2021 and excluding 15 working days for the final time shall ensure the revival of the Corporate Debtor. 3. We have heard the Counsel for Resolution Professional (RP). The learned counsel for RP relied on the clause (vi) of the Order of Hon'ble NCLAT in Company Appeal (AT) (Insolvency) No. 185 of 2018 in the matter ....