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Judgment
IA No. 3035/ND/2020 application filed by one of the proposed Resolution Applicant seeking time to file expression of interest as well as Resolution Plan. Mr. Suresh Jain, Resolution Professional appearing in person and states that since the expression of interest submission timeline has expired as per the regulations, Reason mentioned in the application for inability to submit documents before Resolution Professional in time, is due to the Covid-19 Pandemic and declaration of lock-down by the Government. Learned counsel seeks further time to comply the requirement of submission of Resolution Plan and allow the application. Mr. Suresh Jain, Resolution Professional states that one Resolution plan is received and placed before COC for consideration. We see other proposed Resolution Applicant had also sought time for filing Resolution Plan. This gives a positive picture that there are many proposed Resolution Applicants who are interested in participating and submitting the plan which will help in maximising the valuation of the Corporate Debtor. Order dated 17.06.2020 allowing the extension of CIRP by not calculating 88 days lockdown period of Covid-19 Pandemic CIRP is extended till 09th December 2020. Moreover, amended period of 330 days shall further be available. We are granting three weeks time to all proposed Resolution Applicants to take appropriate steps and submit their plan to Resolution Professional. Learned counsel for the Resolution Professional states that inspection of the Dera Bassi properties is fixed for one proposed Resolution Applicant on 4th August. Let the other proposed Resolution Applicants also visit the property for inspection Corporate Debtor and Resolution Professional to cooperate for inspection to other Resolution Applicants also. List on 03.09.2020.