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Tribunals and CommissionsFull Bench(2022) 05 NCLAT CK 0072

J. P. Engineers Private Limited vs Union Bank of India

National Company Law Appellate Tribunal · Decided on 25 May 2022

HON’BLE JUDGES
Ashok Bhushan, Chairperson · Shreesha Merla, Member (T) · Naresh Salecha, Member (T)
RESULT
Disposed Of
CASE NUMBER
Company Appeal (AT) (Insolvency) No. 567 Of 2022

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Judgment

4 paragraphs · 229 words
1.

Heard Counsel for the Appellant. This Appeal has been filed against the order dated 18.04.2022 by which the application filed by the Appellant for extension of period of CIRP has been partly allowed. The Appellant is aggrieved with the only part by which exclusion was allowed from 07.01.2022 to 18.04.2022 whereas according to the learned counsel for the Appellant the exclusion ought to have been allowed from 07.12.2021 to 18.04.2022 because earlier the application for exclusion was filed by the Appellant on 07.12.2021.

2.

We have heard learned counsel for the Appellant and perused the record.

3.

We have by our earlier order dated 20.05.2022, directed the Appellant to inform the Financial Creditor of the date fixed in the Appeal. Learned counsel for the Appellant submits that he has informed the Financial Creditor. He further submits the CoC itself has taken decision to obtain exclusion of time.

4.

After having heard learned counsel for the Appellant, we are of the view that when the earlier application was filed on 07.12.2021 the exclusion ought to be from 07.12.2021 to 18.04.2022 instead of from 07.01.2022 to 18.04.2022 granted by the Adjudicating Authority. We, thus, direct that the Appellant shall be entitled for exclusion of time from 07.12.2021 to 18.04.2022. Consequently, the CIRP period instead of ending on 18.05.2022 shall end on 18.06.2022. With these observations, the Appeal is disposed of.