The application IA/2592/2021 was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 r/w Rule 11 of National Company Law Tribunal Rules, 2016, Regulation 44 & 47A of The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, seeking exclusion of 294 days from the total Liquidation period (ending on 03.07.2021).
The Liquidator of Clutch Auto Limited filed an application (IA/2592/2021) seeking the exclusion of 294 days from the liquidation period. The reasons for seeking the exclusion were the pendency of I.A. No. 2975 of 2020 filed by Rajasthan State Industrial Development and Investment Corporation Ltd. (RIICO) seeking direction against the Applicant to discharge/release the Security Interest of the RIICO and to handover the possession of the Secured Asset, and the lockdown period imposed due to the COVID-19 pandemic. The liquidation period was ending on 03.07.2021. The pendency of I.A. No. 2975 of 2020 was from 24.07.2020 to 24.03.2021, and the lockdown period was from 19.04.2021 to 07.06.2021. These facts are relevant because they affected the timeline of the liquidation
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C.P. (IB) No. 15 of 2017 filed on behalf of…
Date of Filing…
The application IA/2592/2021 was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 r/w Rule 11 of National Company Law Tribunal Rules, 2016, Regulation 44 & 47A of The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, seeking exclusion of 294 days from the total Liquidation period (ending on 03.07.2021).
The Liquidator of Clutch Auto Limited filed an application (IA/2592/2021) seeking the exclusion of 294 days from the liquidation period. The reasons for seeking the exclusion were the pendency of I.A. No. 2975 of 2020 filed by Rajasthan State Industrial Development and Investment Corporation Ltd. (RIICO) seeking direction against the Applicant to discharge/release the Security Interest of the RIICO and to handover the possession of the Secured Asset, and the lockdown period imposed due to the COVID-19 pandemic. The liquidation period was ending on 03.07.2021. The pendency of I.A. No. 2975 of 2020 was from 24.07.2020 to 24.03.2021, and the lockdown period was from 19.04.2021 to 07.06.2021. These facts are relevant because they affected the timeline of the liquidation
…C.P. (IB) No. 15 of 2017 filed on behalf of…
Date of Filing…