# In the matter of Amar Remedies Ltd. IA No. 4012-MB-2019 in CP (IB) 1053-MB-2017

> NCLT judgment dated 2020-08-20. Citation: TCN-2020-NCLT-00814. The case involves an application (IA No. 4012/MB/2019) filed by the Resolution Professional…

- **Court:** NCLT
- **Order date:** 20 Aug 2020
- **Citation:** TCN-2020-NCLT-00814
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amar-remedies-ltd-ia-no-4012-mb-2019-in-cp-ib-1053-mb-2017-f8081f68

## Summary

### Background

The case involves an application (IA No. 4012/MB/2019) filed by the Resolution Professional (RP) seeking exclusion of a certain period from the Corporate Insolvency Resolution Process (CIRP) period and an extension of 90 days to the CIRP. The Resolution Applicant had previously filed IA No. 524 of 2018 for approval of the Resolution Plan, which was dismissed as withdrawn. The matter was taken up in appeal before the NCLAT, which revived the CIRP and remitted the matter back to the NCLT. The Committee of Creditors (CoC) passed a resolution with a 77.67% vote share seeking the exclusion of the period and extension of 90 days of CIRP.

## Facts

The Resolution Professional (RP) filed an application (IA No. 4012/MB/2019) seeking exclusion of the period from 2018-06-03 until the disposal of the application from the Corporate Insolvency Resolution Process (CIRP) period. The RP also sought an extension of 90 days to the CIRP. The Resolution Applicant had previously filed IA No. 524 of 2018 for approval of the Resolution Plan on 2018-06-03, which was later dismissed as withdrawn on 2019-12-02. The matter was appealed before the NCLAT, which revived the CIRP and remitted it back to the NCLT on 2019-09-30. The Committee of Creditors (CoC) passed a resolution on 2020-08-13 with a 77.67% vote share, seeking the exclusion of the aforementioned period and an extension of 90 days to the CIRP. The Tribunal considered the

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## Issues and analysis

### Issue 1: Whether the exclusion of the period from 2018-06-03 to 2020-08-20 from the CIRP period should be …

**Ratio:** The exclusion of a period from the CIRP can be granted based on the facts and

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**Reasoning:** The court considered the pendency of litigation before the NCLAT and the resolution

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**Interpretation:** This issue involves interpreting the provisions of the Insolvency and

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

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## Parties

- **Judges:** V. Nallasen…; MOHAMMED…
- **Respondents:** Amar Remedi…; Anil…

## Timeline

- **2018-06-03 — Resolution Pl…**: Resolution Applicant filed IA No. 524 of…
- **2019-09-30 — CIRP Rev…**: Hon'ble NCLAT revived the CIRP and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12 — Time-limit for completion of insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12)

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