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Judgment
IA-1816/2023: The prayer made in the IA is for excluding the period from 13.12.2021 till 10.01.2023 (total 394 days) from the prescribed period of CIRP. The only cause/ground espoused by Ld. Counsel appearing for the RP submitted that the IRP could not discharge his duty properly and the appointment of RP made by the CoC could be confirmed only on 10.01.2023.
As could be seen from the order dated 16.02.2022, the IA-743/ND/2022 filed for the replacement of IRP was not supported by any resolution of the CoC and Ld. Counsel for the Applicant had undertaken to file the relevant CoC resolution by way of an additional affidavit within one week. Again on 25.03.2022, the hearing in the IA had to be deferred as the pleadings were still not complete. Also, on 16.12.2022, the Ld. Counsel for the IRP/RP could not press the said application on the ground of poor V.C. connectivity.
Prima facie, it appears that the IRP had not acted diligently in the matter. Hence at this stage, we feel it appropriate that the entire matter along with the relevant orders be referred to IBBI for appropriate view and action. The Court Officer is directed to ensure that this order along with the relevant orders is made available to IBBI forthwith. Let the report of the IBBI be filed within two weeks.
We may also not be oblivious to the fact that the period of more than 330 days is already over. In the captioned application, the period sought to be excluded from CIRP is 394 days and the same is without any plausible reason or justification. The dormancy/reluctance of IRP can hardly be a ground for the exclusion of any period from the prescribed time limit for CIRP.
List on 04.05.2023.