2021 (7) TMI 437

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ankruptcy Code, 2016 Read with Regulation 40C of The IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and Rule 11 of NCLT Rules, 2016 seeking an exclusion of period of lockdown due to COVID-19 Pandemic from 25.03.2020 to 11.11.2020 i.e. 232 Days from calculation of period required for completion of Liquidation Process of the Corporate Debtor (hereinafter referred to as "Liquidation") namely Tirupati Commodities Impex Private Limited (herein after called as the "Corporate Debtor"). Reliefs sought for in the present Application are stated as under: (a) To pass an order allowing exclusion of period of 232 days from 25.03.2020 to 11.11.2020 for calculation of period required for completing the Liquidation....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....inary Report and the Asset Memorandum before this Tribunal dated 25.02.2020. 7. It is submitted that the Liquidator had prepared five progress reports and submitted the fifth progress report dated 15.10.2020 for the period 01.07.2020 to 30.09.2020 stating the steps taken by him after being appointed as Liquidator of the Corporate Debtor. 8. It is submitted that the Government of India imposed a Nationwide lockdown from 25.03.2020 in order to curb the spread of corona virus and thereafter issued several orders for extension of the lockdown in the country. Further, it is submitted that the lockdown due to COVID 19 pandemic in the State of Maharashtra is still in force till 31.10.2020. The copy of the circular dated 24.03.2020, 14.04.202....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....empting the period from 15th March 2020 till 14th March 2021 and again now until further order. The relevant portion of the Order dated 27.04.2021 is being reproduced herein below: "We also take judicial notice of the fact that the steep rise in COVID-19 Virus cases is not limited to Delhi alone but it has engulfed the entire nation. The extraordinary situation caused by the sudden and second outburst of COVID-19 Virus, thus, requires extraordinary measures to minimize the hardship of litigant-public in all the states. We, therefore, restore the order dated 23rd March, 2020 and in continuation of the order dated 8th March, 2021 direct that the period(s) of limitation, as prescribed under any general or special laws in respect of al....