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Judgment
ORDER
18.01.2022: Heard Ms. Meenakshi Arora, Learned Sr. Counsel for the Appellant. She submits that ‘Bank of India’ is a proforma party, hence, new notice need not be issued to it.
Bank of India was part of the CoC which has passed resolution on 03.12.2021 for seeking 35 days’ exclusion from CIRP for which the IA was filed by RP being IA No. 02/2022 which has been rejected by the impugned order was passed by the Adjudicating Authority.
We have perused the impugned order as well as the application filed by the Appellant for seeking exclusion of 35 days. The Adjudicating Authority by the impugned order has not given any reason for not accepting the request of the Appellant for exclusion of 35 days but directions have been issued to RP to complete the process within two weeks from the said dates.
The application which has been filed by the Appellant indicates that there was an order passed by the Adjudicating Authority on 06.09.2021 by which RP and CoC were directed not to take final call which order could be vacated only on 13.12.2021.
It is further submitted that on 17.11.2021, 60 days’ exclusion was granted by the Adjudicating Authority and after Resolution of the CoC on 23.12.2021, the application was filed seeking exclusion of 35 days.
We are of the view that sufficient grounds have been made for exclusion of 35 days’ which has not been adverted by the Adjudicating Authority in rejecting the application and issuing direction for completing the process within two weeks. No reason has been given as to why the prayer cannot be acceded to. We set aside the order passed by the Adjudicating Authority and allow the IA No. 02/2021 and direct for exclusion of 35 days for CIRP. The appeal is allowed accordingly.