# In the matter of HBN Daries & Allied Ltd. (IB)-547(PB)-2018

> NCLT judgment dated 2019-05-13. Citation: TCN-2019-NCLT-03316. The case involves an application for the issuance of a direction to exclude a certain period…

- **Court:** NCLT
- **Order date:** 13 May 2019
- **Citation:** TCN-2019-NCLT-03316
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hbn-daries-allied-ltd-ib-547pb-2018-617a115a

## Summary

### Background

The case involves an application for the issuance of a direction to exclude a certain period from the Corporate Insolvency Resolution Process (CIRP) timeline. CA 911(PB)/2019 was filed seeking to exclude the period from 25.05.2018 until the present date. This request stems from the fact that CA 1128(PB)/2018, filed on 25.10.2018, is still pending, and the ex-promoters/directors have not been cooperating with the Resolution Professional by providing necessary information and documents. The Committee of Creditors (CoC) supported this application through a resolution passed in its 6th meeting held on 03.05.2019.

## Facts

The Corporate Insolvency Resolution Process (CIRP) is ongoing for BHN Daries & Allied Ltd. An application, CA 911(PB)/2019, was filed seeking to exclude a certain period from the CIRP timeline, specifically from 25.05.2018 to the present date. This application was prompted by the fact that CA 1128(PB)/2018, filed on 25.10.2018, is still pending. The ex-promoters/directors have allegedly not been cooperating with the Resolution Professional by failing to provide necessary information and documents. The Committee of Creditors (CoC) supported the application for exclusion through a resolution passed with 99.89% votes in its 6th meeting held on 03.05.2019. The 270-day period for the CIRP was nearing its end on 11.05.2019. Mr. Vohar Singh Dillon, a non-applicant

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## Issues and analysis

### Issue 1: Whether the period from 25.05.2018 to the present date should be excluded from the Corporate …

**Ratio:** The CIRP timeline can be adjusted to ensure a fair and effective resolution process,

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**Reasoning:** The court reasoned that the ex-promoters/directors' lack of cooperation in providing

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**Interpretation:** The interpretation is that the NCLT has the power to exclude certain periods

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**Application:** The court applied this principle by excluding the period from 25.05.2018 to the

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** Bhanu…
- **Respondents:** BHN Daries &…

## Timeline

- **2018-05-25 — Start of Exclusion…**: The period from this date was sought to…
- **2018-10-25 — Filing of CA 1128(PB)/20…**: CA 1128(PB)/2018 was filed,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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