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Judgment
IA 2526/2020: The Counsel for the Resolution Professional is present and prays for extension of CIRP by further period of 90 days on the ground that the lockdown period may be excluded from the maximum period of 330 days which is going to be completed on the 22nd August 2020.
It is brought to the notice of this bench that the application was filed well before the lockdown period for extension of 90 day since the period of 180 days has expired on 25.03.2020.
We take judicial notice of the lockdown period that remained in force from 24th March to 31st May 2020 and continued with further restrictions till June 2020. In view of it, a period of 90 days is hereby excluded from the maximum period of CIRP i.e. 330 days.
Extension is granted for a period of 90 days from the date of this order with a direction to the RP to expedite the process of seeking approval of the resolution plan, if any. The RP is directed to file the status report before the expiry of the extended period of time. The Application is accordingly allowed.