Sanjay Kumar Dewani Interim Resolution ... vs Na
- CitationCompany Appeal (AT) (Ins.) No. 306 of 2021
Ratio decidendi
The rule this decision rests on
The period during which the Corporate Insolvency Resolution Process was stayed or could not proceed on account of the lockdown, as already excluded by an earlier order of the Adjudicating Authority, is excluded from the calculation of the CIRP period under the Insolvency and Bankruptcy Code, and the Adjudicating Authority may likewise exclude further time consumed in adjudicating the application seeking such exclusion together with the time taken in the appellate process, where the Corporate Insolvency Resolution Process was rendered incapable of completion within the statutory period by the pendency of that application.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
In the matter of: Sanjay Kumar Dewani Interim Resolution Professional of ADI Automotives Pvt. Ltd. ....Appellant
Present For Appellant: Mr. Milan Singh Negi, Advocate.
ORDER
(Virtual Mode)
12.04.2021: In Company Appeal (AT) (Insolvency) No. 306 of 2021 filed on
behalf of the Appellant 'Sanjay Kumar Dewani, Interim Resolution Professional
of ADI Automotives Pvt. Ltd.' being satisfied by the Order dated 15.03.2021 in
CP (IB) No. 259/CHD/HRY/2019 whereby the Learned NCLT, Chandigarh
Bench allowed the I.A. Application No. 33 of 2021 to the limited extent of
excluding the periods from 03.09.2020 to 14.12.2020 from the Corporate
Insolvency Resolution Process period and disposed of the I.A.
2. This recent Appeal was filed before this Court on 05.04.2021 and taken
up for Admission today.
3. Learned Counsel for the Appellant referred to Annexure A-4 at Page 52,
which is the Order of the Learned Tribunal passed in I.A. Application No. 503
of 2020. Para 4 is reproduced as hereunder;
"4. In the circumstances, the instant IA No. 503/2020 is allowed to the limited extent of excluding the period of lockdown w.e.f. 25.03.2020 to 31.07.2020 and also with a liberty as aforesaid.
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4. Learned Counsel for the Appellant submitted that pursuant to the Order
they have filed the said I.A. Application bearing No. 33 of 2021 on 07.01.2021,
in which the prayer was made that;
"In view of the foregoing, it is humbly prayed that this Hon'ble Adjudicating Authority may be pleased to:
(a) Allow the present application excluding the time period of 103 days utilized during the pendency of I.A. No. 503 of 2020 form the total time period of the Corporate Insolvency Resolution Process of the Corporate Debtor calculated from 03.09.2020 to 14.12.2020; and
(b) Exclude the time period as may be required for adjudication of the present application, i.e. from 14.12.2020 till the actual date of disposal of the instant application, from the total time period of the Corporate Insolvency Resolution Process of the Corporate Debtor;
(c) Pass such other/further order(s) of this Hon'ble Adjudicating Authority may deem fit and proper in the facts and circumstances of the present case."
5. Learned Counsel for the Appellant while referring to the Impugned Order
submitted that only period from 03.09.2021 to 14.12.2020 has been excluded.
Being aggrieved, they have filed this Application.
6. Counsel for the Appellant further submitted that he has filed an
'Additional Affidavit' in I.A. Application No. 33 of 2021 on 05.03.2021, wherein
in Para 4 they have arrayed the complete details, which is reproduced as
hereunder;
"In compliance of the above direction of this Hon'ble Tribunal, the Applicant herein is filing the present affidavit, hence placing on record the following important list of dates and events thereon:
Company Appeal (AT) (Ins.) No. 306 of 2021 -3-
Date Events Particulars 08.01.2020 CIRP in the present case was This Hon'ble Tribunal was commenced on the order of pleased to admit the this Hon'ble Tribunal. application filed under section 9 of IBC 06.07.2020 The time-period of 180 days On expiry of the time-
(as provided under Section period, the CoC became 12(1) of IBC) expired. functus officio and the meeting of the CoC could not be held.
03.09.2020 The Applicant/IRP filed IA 10.02.2020-24.03.2020 (44 503/2020 for exclusion of days) 192 days from the CIRP 25.03.2020-20.08.2020 time-period. (148 days) Total: 192 days. 14.12.2020 IA 503/2020 was partly Liberty was also granted to allowed by granting the IRP to file application, exclusion of 129 days "seeking exclusion of any (25.03.2020 to 31.07.2020). other period if necessary". 12.11.2020 On applying the above Being so, the CoC could not exclusion of 129 days to the be held for having become present case, it was functus officio. observed that the time- IRP was advised to file period of 180 days held appropriate application, as already expired on per the liberty so granted. 13.11.2020. 07.01.2021 The present application (IA The application was listed 33/2021) was filed for on 11.01.2021 & exclusion of 188 days. 20.01.2021; however, the same could not be taken up due to strike called by the Bar Association.
7. It was submitted that the period from 07.01.2021 till 15.03.2021 the
period on which the Learned NCLT passed the Impugned Order be also
excluded. This comes to 66 days. He, further, submitted that period of 7 days
spent in pursuant of this Appeal total 73 days be excluded.
8. Impugned Order dated 15.03.2021 is modified to the extent that further
period of 66 days i.e. from 07.01.2021 to 15.03.2021 and further from
Company Appeal (AT) (Ins.) No. 306 of 2021 -4-
05.04.2021 when the instant Appeal was filed before this Tribunal on
12.04.2021 total (66+7=73) days further excluded from the CIRP period.
9. The Appeal after modification of the Impugned Order dated 15.03.2021,
is allowed to the limited extent as indicated above.
[Justice Anant Bijay Singh] Member (Judicial)
[Ms. Shreesha Merla] Member (Technical) ha/nn
Company Appeal (AT) (Ins.) No. 306 of 2021
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