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IA No. 1347/2022
IA No.1347/2022 is filed for exclusion of period of 16 days from the date of admission of the main petition vide order dated 02.08.2022 till 18.08.2022 i.e. date of appointment of the applicant IRP Mr. Vanit Kumar Mittal. It is mentioned that due to certain medical emergencies IRP Mr. Vipul Garg could not take charge and moved an application for discharging him from the duties of IRP on 08.08.2022 and new IRP/Mr. Vanit Kumar Mittal was appointed as IRP vide order dated 18.08.2022. This seems to be a plausible ground and consequently the period of 16 days be excluded from the period of CIRP w.e.f. 02.08.2022 till 18.08.2022. Consequently, IA No.1347/2022 is allowed and disposed of accordingly.
IA No. 186/2023
The compliance affidavit has been filed vide diary No.00148/01 dated 30.01.2023 in which it is deposed in para No.3 that the present CIRP period of 180 days of the corporate debtor commencing from 02.08.2022 shall end on 29.01.2023. The same is taken on record.
Heard on IA No.186/2023 in which abovementioned fact has been filed clarifying the period of 180 days expiry on 15.02.2023 if the period of 16 days is excluded which is already excluded in IA No.1347/2022. The progress report during the said period has been taken in which it is stated by learned counsel for the applicant/IRP that five expressions of interest have been received and will be finalized by the CoC. This extension of 90 days is approved by CoC in its 4th meeting on 04.01.2023 with 100% voting share. Keeping in view the facts and circumstances, the further extension of 90 days for completion of CIRP is granted w.e.f. 15.02.2023 till 17.05.2023. Consequently, IA No.186/2023 is allowed and disposed of accordingly. Learned counsel for the RP is directed to utilize the time period for completion of the IRP effectively.