2022 (4) TMI 1038

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....er (T) For the Appellant : V.S.R. Avadhani, Advocate ORDER 1. Under consideration is an Interlocutory Application bearing IA No. 682 of 2022 in CP (IB) No. 682/7/HDB/2018, filed by the Applicant/Resolution Professional (in short RP) in the matter of M/s. Mantena Laboratories, under section 12 of the Insolvency and Bankruptcy Code, 2016, inter-alia seeking the following relief(s): a) To extend....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ennai Bench vide Comp App (AT) No. 214 of 2021. The Hon'ble NCLAT, Chennai bench vide order dated 13.09.2021 issued notice to parties and did not grant any stay. To create further delay and to obstruct the CIRP of Corporate Debtor, the suspended director filed W.P. 23816 of 2021 in Hon'ble High Court of Telangana and obtained stay vide order dated 05.10.2021, which lead to stalling of the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 05.10.2021, the CIRP could not continue for 35 days i.e., till the writ petition 23816 of 2021 was dismissed by the Hon'ble High Court. The applicant had sought approval from the COC regarding the same and the COC vide their 3rd meeting conducted on 17.12.2021 accorded approval to move appropriate application before this Adjudicating Authority. d) That Section 12(2) of the code enables the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....5. It is pertinent herein to quote the resolution of CoC, passed in its third CoC meeting dated 23.12.2021 as under:- "Resolved That pursuant to Section 12 of the Code (Including all the amendments and modifications for the time being in force) read with Section 60(5) of the code, the consent of Committee of Creditors be and is hereby accorded to exclude the period commencing from 08-10-2021 to ....