2022 (2) TMI 1012

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....Kumar Gupta, Member (T) For the Appellant : Yash Tandon , Adv ORDER IA No. 366/2021 1. This is an application filed by Mr. Anuj Kumar Tiwari, the Resolution Professional of Chinttpurni Engineering Works Private Limited under Sec. 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Regulation 47A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for ....

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.... incapacitated after being diagnosed with dengue. (c) from 16th July, 2021 to 9th September, 2021 period of 55 days lost in approving the Resolution of the 6th CoC meeting which was held on 16.07.2021 but the resolution for the same was approved by COC on 09.09.2021. (d) from 12.11.2021 to 08.01.2022, period of 58 days due to unavoidable circumstances since the Resolution Profess....

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....evival of the corporate debtor. 6. Considering the guidelines given by Hon'ble Supreme Court in para 127 of its judgment in Committee of Creditors of Essar Steel India Limited through Authorised Signatory v. Satish Kumar Gupta & Ors. 2020 8 SCC 531, where it was held "ordinarily the time taken in relation to the corporate resolution process of the corporate debtor must be completed within t....

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....y and/or the Appellate Tribunal itself, it may be open in such cases for the Adjudicating Authority and/or Appellate 132 Tribunal to extend time beyond 330 days. Likewise, even under the newly added proviso to Section 12, if by reason of all the aforesaid factors the grace period of 90 days from the date of commencement of the Amending Act of 2019 is exceeded, there again a discretion can be exerc....