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E2E Telelink India Pvt. Ltd. vs Cambridge Energy Resource Pvt. Ltd

National Company Law Tribunal · Decided on 24 January 2022 · Citation: (2022) 01 NCLT CK 0070

HON’BLE JUDGES
Harnam Singh Thakur, Member J · Subrata Kumar Dash, Member, T
ACTS & SECTIONS REFERRED
Insolvency and Bankruptcy Code, 2016 — Section 12(3), 60(5) · Insolvency and Bankruptcy Board of India (Corporate Insolvency Resolution Process for Corporate Persons), Regulations, 2016 — Regulation 40c · National Company Law Tribunal Rules, 2016 — Rule 11
RESULT
Disposed Of
CASE NUMBER
IA Nos. 458/2021, 677/2021 & 44/2022 In CP (IB) No. 138/Chd/Hry/2019
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Judgment

19 paragraphs · 356 words

IA No. 44/2022

1.

Heard on IA No. 44/2022 which has been filed by applicant-Resolution Professional for amendment of IA No. 458/2021 seeking correction of the

date from ‘19.04.2020’ to ‘19.04.2021’. Keeping in view the facts mentioned in the application that it was due to typographical mistake

the amendment is allowed in the interest of justice and 19.04.2020 be read as 19.04.2021 in IA No. 458/2021. Accordingly, IA No. 44/2022 is disposed

of.

2.

Heard on IA No. 458/2021 which is filed for exclusion of lockdown period w.e.f. 19.04.2021 till 31.05.2021 (i.e. 42 days) from the resolution

process. Heard. Keeping in view the facts and circumstances and grounds mentioned in the application on account of Pandemic Covid-19 situation

during that period and in view of the judgment of the Hon’ble Supreme Court of India in Suo Motu Writ Petition (Civil) No(s). 3/2020 in Re:

cognizance for extension of Limitation vide order dated 23.03.2020; and decision dated 30.03.2020 of the Hon’ble National Company

Law Tribunal in Suo Moto-Company Appeal (AT) (Insolvency) No. 01 of 2020, as well as Regulation 40C of the Insolvency and Bankruptcy

Board of India (Corporate Insolvency Resolution Process for Corporate Persons), Regulations, 2016; the said period of 42 days w.e.f.

19.04.2021 to 31.05.2021 is excluded from the total time limit of resolution process. IA No. 458/2021 is allowed and disposed of accordingly.

IA No. 677/2021

3.

Heard on IA No. 677/2021, which is filed for extension of 90 days of the CIRP period which was already expired on 09.11.2021. The meeting of

Committee of Creditors was held on 16.11.2021 in which Resolution Professional was directed to file the application and under Resolution No. 1,

agenda for extension of 90 days period beyond 180 days was passed with 100% voting and Resolution Professional was authorized to file the present

application before this Bench. Keeping in view the facts and circumstances mentioned in the application, IA No. 677/2021 is allowed in the interest of

justice and period of 90 days is extended for completion of CIRP period from the last date of expiry of 180 days. IA No. 677/2021 is allowed and

disposed of accordingly.