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Judgment
ORDER
This application has been filed for seeking exclusion in completion of the CIRP. The prayer as stipulated in the application reads as under :-
A. To Allow the present Application; and
B. To Grant Exclusion of the period of 135 days from the CIRP Process starting from 02.12.2025 (i.e., after expiry of the previously excluded period ending on 01.12.2025, pursuant to Order dated 01.12.2025 passed by this Hon’ble Tribunal) to 15.04.2026 (i.e., till the date of filing of the present Application) owing to wilful non-cooperation of the suspended Board of Directors of Corporate Debtor and pendency of Civil Appeal Diary No. 30277/2025 before the Hon’ble Supreme Court; and
C. To Grant exclusion of the period from the date of filing of the present application till the date of pronouncement of the order under the present application, as an additional exclusion period in addition to the one as sought under prayer clause (B) i.e., in addition to 135 days; and/ or
D. To pass such other necessary order(s)/direction(s) as this Hon’ble Tribunal deems fit and appropriate under the facts of the given case to meet the best interest of justice.
The Ld. Counsel representing the Applicant/ RP submits that the exclusion in the present CIRP has been sought in view of the two aspects i.e. non-cooperation/ non-providing of adequate information/ documents by the erstwhile management and also because a matter is before the Hon’ble Supreme Court against the CIRP/ admission order dated 19.01.2024, wherein the Hon’ble Supreme Court has directed that meanwhile the Resolution Plan shall not be approved by the CoC.
Ld. Counsel representing the Applicant/ RP further submits that the exclusion is sought from 02.12.2025 till 15.04.2026 i.e. for a period of 135 days and further exclusion from the date of filing of the present application i.e. 15.04.2026 till the passing of the order in the present application. He also further submits that the Resolution has been passed in the 8th CoC meeting held on 13th April, 2026 by 100% voting result for seeking exclusion in completion of the CIRP vide agenda item no.19, the details of which have been given at page no.45 of the paper book.
Ld. Counsel representing the Applicant/ RP also further submits that some Resolution Plans have been received, which will be considered/ dealt with, accordingly after the directions of the Hon’ble Supreme Court in the pending matter, and therefore the exclusion of time is necessitated in completion of the CIRP. He also further submits that an IA No.435/2025 U/s 19(2) of the Code has been filed for seeking cooperation from the ex-management as well as the relevant documents, Books of Accounts etc. from them, which are also not forthcoming.
Ld. Counsel representing the Applicant/ RP therefore submits that this application may kindly be allowed for granting exclusion in CIRP on the aforesaid grounds.
We have perused the record and heard the Ld. Counsel representing the Applicant/ RP.
In view of the averments made in the application as well as the submissions made by the Ld. Counsel representing the Applicant/ RP, the present application is allowed and exclusion from 02.12.2025 till 15.04.2026, as also further exclusion from the date of filing of the present application i.e. from 15.04.2026 till today i.e. the date on which the present application has been considered and allowed, is granted.
Accordingly, IA No.272/2026 is allowed and stands disposed off.