Satya Prakash Gupta, Resolution Professional Vs

Heard Learned Counsel for the Appellant.

This Appeal has been filed against the Order dated 20th June, 2022 passed by the Adjudicating Authority rejecting the I.A. No. 1875/(ND)/2022 filed by the Resolution Professional seeking exclusion of 210 days and extension of 90 days for completion of the ‘Corporate Insolvency Resolution Process’ (CIRP in short). The Adjudicating Authority has noted that by an earlier Order passed on 20th January, 2020 exclusion of 794 days was granted.

Learned Counsel for the Appellant submits that there is no fault of the Resolution Professional in proceeding with the Corporate Insolvency Resolution Process since cooperation has not been received from the Directors of the Corporate Debtor.

Be that as it may, the Adjudicating Authority has noted that more than three years have elapsed and nothing concrete has been done.

In view of the aforesaid, no error has been committed by the Adjudicating Authority in refusing the prayer made by the Resolution Professional, when no headway has been made in the CIRP and more than three years have elapsed. We see no reason to interfere with the Impugned Order. The Appeal is dismissed.