# In the matter of Subrata M. Maity, RP of Eskay K’ N’ IT (India) Ltd. Vs. COC of Eskay K’ N’ IT (India) Ltd. Through Bank of India & Ors. CA (AT) (Ins) No. 69 of 2021

> NCLAT judgment dated 2021-02-04. Citation: TCN-2021-NCLAT-00376. This is an appeal regarding the extension of the Corporate Insolvency Resolution Process…

- **Court:** NCLAT
- **Order date:** 4 Feb 2021
- **Citation:** TCN-2021-NCLAT-00376
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/subrata-m-maity-rp-of-eskay-k-n-it-india-ltd-vs-coc-of-eskay-k-n-it-0c506c56

## Summary

### Background

This is an appeal regarding the extension of the Corporate Insolvency Resolution Process (CIRP) period. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, Court-2, excluded 68 days from the CIRP period. The appellant argues that the entire lockdown period from March 25, 2020, to October 25, 2020, should have been excluded when calculating the 180-day CIRP period. The 90-day extension granted by the Adjudicating Authority, combined with the original 180-day period, results in an extended period of 270 days. The appellant seeks intervention to exclude the entire lockdown period.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated. The Adjudicating Authority granted an extension of time for the CIRP period. The Adjudicating Authority excluded 68 days from the CIRP period. A lockdown was imposed from March 25, 2020, to October 25, 2020. The appellant argued that the entire lockdown period should be excluded from the CIRP period calculation. The Adjudicating Authority made observations regarding the conduct of the Resolution Professional, suggesting delaying tactics. The appellant appealed the decision, seeking exclusion of the entire lockdown period and challenging the observations against the Resolution Professional. The key fact is the imposition of a lockdown and its impact on the CIRP timeline, specifically whether the entire

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## Issues and analysis

### Issue 1: Whether the entire period of lockdown ranging from 25th March, 2020 till 25th October, 2020 should …

**Ratio:** The period of lockdown imposed due to the COVID-19 pandemic should be excluded from the

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**Reasoning:** The court reasoned that the lockdown disrupted economic activities and impacted the

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**Interpretation:** The interpretation of the CIRP regulations must consider the extraordinary

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**Application:** The court applied the ratio to the specific facts of the case, holding that the

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## Parties

- **Judges:** Bansi Lal…; Ashok Kumar…; +1 more
- **Appellants:** Subrata M. Maity,…
- **Respondents:** Eskay K' N' IT…; COC of Eskay K'…

## Timeline

- **2020-03-25 — Lockdown I…**: Lockdown imposed in India due…
- **2020-08-17 — 180 Days Perio…**: The initial 180-day period of the Corporate…

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