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Judgment
The Liquidator is represented by the Ld. Counsel Mr. B.Dhanaraj through video conferencing mode.
IA/1536(CHE)/2022 has been filed with the following reliefs:-
"a. Pass an order directing to exclude the Covid 19 lockdown period of 72 days from 19.12.2021 till 28.02.2022 and further extend the period for liquidation of the Corporate Debtor M/s. Veesons Energy Systems (P) Ltd, by 180 days from 12.12.2022 till 09.06.2023 and
b. Pass such further or other orders as may be deemed fit and proper in the facts and circumstances of the case and thus render justice."
The liquidation was ordered by order dated 19.10.2018 certain periods have been excluded and the liquidation has been extended. The last such order is dated 12.07.2022 to which the period of 180 days was excluded (from 22.06.2021 to 18.12.2021) and the period of liquidation thereafter extended till 11.12.2022.
Ld. Liquidator is now seeking exclusion of Covid-19 lockdown period of 72 days and further 180 days to complete the liquidation process.
It is stated at page 5 that there are unsold asset, the description of which has been given under heading unsold assets on hand in para (vi).
In view of the reasons explained in the Application, we are favourably inclined to extend and exclusion as sought for in the present Application.
Accordingly, the period is hereby extended as prayed for.
Hence, IA/1536(CHE)/2022 stands allowed.
IA/1574(CHE)/2022: - The Applicant is directed to file clean copy of the Application before the next date of hearing.
List IA/1574(CHE)/2022 on 16.01.2023 for further hearing.