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Judgment
IA No. 1597/2023
This application has been filed for exclusion of 178 days spent during the pendency of IA No. 1801/2022 from computation of 270 days of CIR process. It is stated by learned counsel for the applicant that they had filed an application under Section 19(2) of the Code as no financial information is available with the RP and the RP has books of accounts for the Financial Year 2010-11 and in view of such facts, no progress could be made in the CIR progress. This application under Section 19(2) was filed on 02.12.2022 and was disposed of on 29.05.2023 i.e. pendency of 178 days. It is also seen that the CoC in its meeting dated 03.04.2023 has approved the agenda related to filing of this application by 100% voting share. In view of such fact, period of 178 days is directed to be excluded from the date of appointment of the RP till the next date of hearing of the period for completion of CIRP. The RP is directed to take pro-active measure on the direction given in our order dated 29.05.2023 and if no results are forthcoming an appropriate application in this regard may be filed without any further loss of time. IA No. 1597/2023 is allowed and disposed of accordingly.