2021 (6) TMI 193

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....ER R. Sucharitha, Member (J) 1. Under adjudication is an applications filed under section 60(5) of the IBC, 2016 read with Regulation 44 of the IBBI (Liquidation Process) Regulations 2016 read with Rule 11 of NCLT Rules, 2016 seeking an order excluding a period of 221 days in computing the Liquidation period from 24.03.2020 to 31.10.2020. 2. Learned Counsel for the Applicant submitted that this....

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....could not be completed even after a lapse of more than 10 years and so, the Corporate Debtor could not pay the fees of the Arbitral Tribunal consisting of 3 arbitrations to the tune of Rs. 13,73,500/- as on 02.10.2019 and the said non-payment was suspended by the Arbitral Tribunal since the year 2018 since the Corporate Debtor becoming inoperative and lack of funds. According to the applicant, the....