# In the matter of Cox & Kings Ltd. I.A. NO. 1069 of 2020 in C.P. (IB) No. 2640 of 2019

> NCLT judgment dated 2020-10-07. Citation: TCN-2020-NCLT-00439. The case involves an application (I.A. NO. 1069 OF 2020) filed by the Resolution Professional…

- **Court:** NCLT
- **Order date:** 7 Oct 2020
- **Citation:** TCN-2020-NCLT-00439
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/cox-kings-ltd-ia-no-1069-of-2020-in-cp-ib-no-2640-of-2019-bc573055

## Summary

### Background

The case involves an application (I.A. NO. 1069 OF 2020) filed by the Resolution Professional (RP), Mr. Ashutosh Agarwala, of Cox & Kings Ltd. (Corporate Debtor) under Section 12(2) of the Insolvency and Bankruptcy Code, 2016, seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period. The CIRP was initiated following a Company Petition filed by Ratan India Finance Private Limited (Financial Creditor) under Section 7, which was admitted on 22.10.2019. The initial IRP, Mr. Alok Kumar Agarwala, faced non-cooperation from the ex-management and statutory auditors, leading to the filing of Misc. Applications for directions to cooperate. Subsequently, the Committee of Creditors (CoC) filed an application for the appointment of Mr. Ashutosh Agarwala

…

## Facts

Ratan India Finance Private Limited initiated a Corporate Insolvency Resolution Process (CIRP) against Cox & Kings Limited by filing a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 22.10.2019. Initially, Mr. Alok Kumar Agarwala was appointed as the Interim Resolution Professional (IRP), but he faced non-cooperation from the ex-management and statutory auditors of Cox & Kings Limited. This led to the filing of Misc. Applications seeking directions for cooperation. Subsequently, the Committee of Creditors (CoC) decided to replace Mr. Alok Kumar Agarwala with Mr. Ashutosh Agarwala as the Resolution Professional (RP). The appointment of Mr. Ashutosh Agarwala was approved by the Tribunal on 10.01.2020. The

…

## Issues and analysis

### Issue 1: Whether the period of lockdown imposed due to the COVID-19 pandemic should be excluded from the …

**Ratio:** The ratio is based on the principle that force majeure events, such as a nationwide

…

**Reasoning:** The court reasoned that the nationwide lockdown imposed by the government due to the

…

**Interpretation:** The interpretation is that Section 12 of the IBC, while setting a strict

…

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

…

## Parties

- **Judges:** SUCHITRA KANUPARTH…; Shri. Shyam Babu…; +1 more
- **Appellants:** Ashutosh Ag…
- **Respondents:** Cox & King…; Ratan India…

## Timeline

- **2019-10-22 — Admission of Company…**: Company Petition filed by Ratan India Finance Private Limited under Section 7 was…
- **2019-10-22 — Appointment…**: Mr. Alok Kumar Agarwala was appointed as the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 2 — Application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-2)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/cox-kings-ltd-ia-no-1069-of-2020-in-cp-ib-no-2640-of-2019-bc573055