Manav Investments And Trading Co Ltd vs Pratim Bayal

Company Appeal (AT) (Insolvency) No. 1369 of 2023 & I.A. No. 4880 of 2023

IN THE MATTER OF:

Manav Investments and Trading Co. Ltd. ...Appellant

Versus

Pratim Bayal ...Respondents

Present: For Appellant : Mr. Ritin Rai, Sr. Advocate with Ms. Priyata Chakraborty, Ms. Tahira Kathpalia, Advocates For Respondents : Mr. Abhijeet Sinha, Mr. Saumya Dutta, Mr. Shaunak Mitra, Mr. Abhishek Guha, Mr. Siddhant U., Advocates

ORDER

20.10.2023: Heard Learned Counsel for the Appellant.

2. This Appeal has been filed against the Order dated 28th August, 2023

passed by the Adjudicating Authority by which Application filed by the

Resolution Professional for extension of 30 days has been allowed.

3. In Paragraph 2(c), following observations have been made by the

Adjudicating Authority:

"c. We have considered the rival contentions. In view of the striking down the word mandatorily from the said provision and having noted that the voting process on a plan is already over, we feel that a Successful Resolution can be arrived at if such limited extension is granted in regard to the prayer that is made in the Application to a further period of 30 days from today, the process shall mandatorily be completed within the extended period of time."

4. The Adjudicating Authority having noticed that voting process on the

plan is already over hence the extension of 30 days is allowed. We do not find

any ground to interfere with the Order passed by the Adjudicating Authority.

The Appeal is dismissed.

[Justice Ashok Bhushan] Chairperson

[Barun Mitra] Member (Technical)

Basant/nn

Company Appeal (AT) (Insolvency) No.1369 of 2023