In the matter of Hi Tech Air Power Private Limited

National Company Law Tribunal3 September 2024

CitationI.A No.607, 608, 609 & 619-2024 in CP (IB) No.91/BB/2023

Ratio decidendi

The rule this decision rests on

The period from 12.01.2024 to 12.06.2024 is excluded from the corporate insolvency resolution process, the relevant reckoning date being the date on which the Tribunal's order of 03.06.2024 was uploaded on the Tribunal's website (12.06.2024), not the date on which it was later reported as uploaded (30.06.2024).

Written by Miss Lucy from the judgment below, not taken from a headnote.

Judgment

As delivered

IN THE NATIONAL COMPANY LAW TRIBUNALBENGALURU BENCH, BENGALURU(Through Physical Hearing / VC Mode (Hybrid))ITEM No.16I.A No.607, 608, 609 & 619/2024 inC.P. (IB)No.91/BB/2023IN THE MATTER OF:M/s. Harish B and others … PetitionerVs.M/s. Hi-tech Air Power Pvt., Ltd., … RespondentOrder under Section 7 of IBC, 2016Order delivered on: 03.09.2024CORAM:SHRI K. BISWALHON’BLE MEMBER (JUDICIAL)SHRI MANOJ KUMAR DUBEYHON’BLE MEMBER (TECHNICAL)PRESENT:For the IRP : Shri TVS Siva Prasad

ORDER I.A. No. 607/2024 1. This application is filed by the Applicant seeking to take on record, the appointment of Interim Resolution Profession (IRP) as Resolution Professional (RP) as confirmed by the Committee of Creditors. 2. Heard the Ld. Counsel for the Applicant. 3. Considering the submissions of the Ld. Counsel for the Applicant, the report confirming the IRP as RP of the Corporate Debtor is taken on record. Accordingly, I.A No.607/2024 is disposed of.

I.A. No. 608/2024

1. This application is filed by the Applicant seeking exclusion of the period between 12.01.2024 to 30.06.2024. 2. Heard the Ld. Counsel for the Applicant. 3. The Applicant Counsel submitted that the present petition was admitted on 12.01.2024 and Shri Nagaraj Emmadi was appointed as IRP and later was replaced with the Applicant Shri T.V.S Siva Prasad, therefore, the present IA is filed to exclude the period between the appointment of Sri Nagaraj Emmadi as IRP and his replacement with the present RP vide order dated 03.06.2024.

Further stated that the order dated 03.06.2024 was uploaded on the website of the NCLT on 30.06.2024, therefore, he requested that 30.06.2024 may be reckoned as the date of commencement of the CIRP. 4. After verifying in the NCLT website by the registry, it is noticed that the order of 03.06.2024 passed by this Tribunal was uploaded on website on 12.06.2024, therefore, considering the above, a period from 12.01.2024 till 12.06.2024 is excluded from the CIRP process. Accordingly, I.A No. 608 of 2024 is disposed of.

I.A. No. 609/2024

1. This application is filed by the Applicant seeking to take on record, the report of 1st meeting of the Committee of Creditor (COC) in respect of the CIRP of the Corporate Debtor. 2. Heard the Ld. Counsel for the Applicant. 3. In view of the above, the report is taken on record. Accordingly, I.A No.609/2024 is disposed of.

I.A. No. 619/2024

1. This application is filed by the Applicant seeking to take on record the Preliminary Progress Report for the period from 30.06.2024 to 30.07.2024. 2. Heard the Ld. Counsel for the Applicant. 3. In view of the above, the report is taken on record. Accordingly, I.A No.619/2024 is disposed of.

Sd/- Sd/- (MANOJ KUMAR DUBEY) (K. BISWAL) MEMBER (TECHNICAL) MEMBER (JUDICIAL)

Gayathri

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