# In the matter of Anil Tayal, Resolution Professional for Horizon Buildcon Pvt. Ltd. Vs. Committee of Creditors of Horizon Buildcon Pvt. Ltd CA (AT) (Ins) No. 120 of 2021

> NCLAT judgment dated 2021-02-23. Citation: TCN-2021-NCLAT-00357. The case involves an appeal against the Adjudicating Authority's decision to decline the…

- **Court:** NCLAT
- **Order date:** 23 Feb 2021
- **Citation:** TCN-2021-NCLAT-00357
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/anil-tayal-resolution-professional-for-horizon-buildcon-pvt-ltd-vs-committee-of-9bfd7a60

## Summary

### Background

The case involves an appeal against the Adjudicating Authority's decision to decline the exclusion of certain periods from the Corporate Insolvency Resolution Process (CIRP) timeline. The Resolution Professional of M/s. Horizon Buildcon Pvt. Ltd., the Corporate Debtor, sought exclusion of the period consumed in legal proceedings before the Adjudicating Authority, specifically from October 21, 2020, to November 9, 2020, and from January 12, 2021, to February 3, 2021, for calculating the CIRP period. The Adjudicating Authority did not exclude these periods, leading to the appeal.

## Facts

The Resolution Professional of M/s. Horizon Buildcon Pvt. Ltd. (the Corporate Debtor undergoing CIRP) appealed against the Adjudicating Authority's decision. The Adjudicating Authority declined to exclude the period from October 21, 2020, to November 9, 2020, and from January 12, 2021, to February 3, 2021, from the CIRP timeline. The Resolution Professional sought this exclusion because these periods were consumed in legal proceedings before the Adjudicating Authority. The Committee of Creditors (COC) had directed the Resolution Professional to seek an extension of 60 days beyond the initial 270-day CIRP period. The appellant argued that the failure to exclude the period of judicial intervention rendered the extension granted meaningless, as the extended period expired

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## Issues and analysis

### Issue 1: Whether the period of judicial intervention, specifically from October 21, 2020, to November 9, …

**Ratio:** The period of judicial intervention should be excluded from the calculation of the CIRP

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**Reasoning:** The appellate tribunal reasoned that the Adjudicating Authority's failure to exclude the

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**Interpretation:** The interpretation is that periods during which the Adjudicating Authority is

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Bansi Lal…; Ashok Kumar…
- **Appellants:** Anil Tayal,…
- **Respondents:** Horizon Buildcon…; Committee of…
- **Advocates:** Abhishek…; Kunal God…; +1 more

## Timeline

- **2021-02-03 — Impugned Ord…**: The Adjudicating Authority issued an order declining the exclusion of certain periods…
- **2020-10-21 — Start of First…**: The first period sought to be excluded from the CIRP timeline began, relating to legal…

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