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Judgment
This is an Application filed on behalf of the Liquidator under Regulation 44 (2) read with 47A of the IBBI (Liquidation Process) Regulations, 2016 read with Rule 11 of the NCLT Rules, 2016 seeking the appropriate directions along with the affidavit in support.
We have heard the submissions made by the Counsel for the Liquidator and also perused the contents of the Application.
Having examined the submissions made by the Applicant wherein the Applicant has prayed for exclusion of the Lockdown period imposed by the Govt of NCT Delhi from 20.4.2021 to 06.6.2021 (48 days) from the computation of liquidation period and also prayed for extension of liquidation period, for the period of one year as laid down under 44 (2) of Liquidation Process Regulations, 2016 and pass an order for extension of the liquidation period.
Having noted the submissions made by the Counsel, nine months period (which shall commence from 09.9.2021) of extension is granted and 48 days exclusion is granted.
With the above directions, the Application is partly allowed.
The Liquidator is directed to expeditiously complete the affairs and take the necessary steps for speedy completion of the liquidation.