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Judgment
O R D E R
16.07.2024: This Appeal has been filed by the Resolution Professional challenging order dated 24.04.2024 passed by the Adjudicating Authority in IA No.1855(MB)2024. The application was filed by the Appellant praying for following reliefs:
“5.Relief(s) Sought: In view of the facts mentioned above, the Applicant prays for the following relief(s):
(a)Consider and allow the present application for exclusion of a period of 157 days from the CIRP process period for a period from 18th June 2023 to 21 November 2023 under Rule 11 of the NCLT, Rules, 2016 read with to Section 12 the Insolvency & Bankruptcy Code, 2016 read with Regulation 40 of the Insolvency & Bankruptcy (Insolvency Resolution) Regulations, 2016 thereby extending CIRP process period up to 18th July 2024;
(b)The Hon'ble Tribunal be pleased to pass an order condoning the delay of 130 days in the filing of the present application for exclusion of the CIRP process period on accounts facts and circumstances mentioned in the present application.
(c)Issue such necessary orders for extension of moratorium period as may be deem fit; and
(d)Issue such other orders as may be necessary in the matter.”
Learned counsel for the Appellant submits that in the application detail facts were pleaded including the fact that there being inter se dispute between the CoC regarding the replacement of Resolution Professional due to which proceeding cannot proceed and the matter could be come to rest on 16.10.2023, hence, application was filed for exclusion of 157 days.
We have perused the order passed by the Adjudicating Authority. The observation made by the Adjudicating Authority that inter se dispute could not be a justifiable or proper ground for exclusion of 157 days whereas in the application details of litigation was given and pendency of the applications has been detailed by the Appellant which has not been adverted to. It may be true that mere dispute between the CoC may not be relevant fact but when applications were filed and litigation was made, the Adjudicating Authority ought to have adverted to the details.
In view of the above, we are of the view that ends of justice be served in setting aside the order dated 24.04.2024 and reviving application IA No.1855(MB)2024 for fresh consideration. Appeal is allowed. Let IA No. 1855(MB)2024 be revived before the Adjudicating Authority to be heard and decided in accordance with law afresh. Appeal is disposed of.