# In the matter of Hike Leather Private Limited IA Nos.386 & 387/2020 in CP (IB) No.205/Chd/Hry/2019

> NCLT judgment dated 2020-09-14. Citation: TCN-2020-NCLT-00630. The case involves an application (IA No. 387/2020) filed by the Resolution Professional of M/s…

- **Court:** NCLT
- **Order date:** 14 Sept 2020
- **Citation:** TCN-2020-NCLT-00630
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hike-leather-private-limited-ia-nos386-3872020-in-cp-ib-no205chdhry2019-02c95a89

## Summary

### Background

The case involves an application (IA No. 387/2020) filed by the Resolution Professional of M/s Hike Leather Private Limited, the Corporate Debtor, seeking exclusion of the lockdown period from 23.03.2020 to 31.07.2020 (131 days) from the initial Corporate Insolvency Resolution Process (CIRP) period of 180 days. The CIRP was initiated against the Corporate Debtor on 20.02.2020, and the Resolution Professional could not finalize the CIRP within the initial period due to the lockdown imposed by the Government of India. The CIRP period was to expire on 18.08.2020.

## Facts

The Oriental Bank of Commerce initiated CIRP against M/s Hike Leather Private Limited on 20.02.2020. Rakesh Phull was appointed as the Resolution Professional. Due to the COVID-19 lockdown imposed by the government, the Resolution Professional could not finalize the CIRP within the initial 180-day period. The lockdown period was from 23.03.2020 to 31.07.2020, totaling 131 days. The initial CIRP period was to expire on 18.08.2020. The Resolution Professional filed IA No. 387/2020 seeking exclusion of the lockdown period from the CIRP timeline. The Supreme Court and NCLAT had issued orders extending the period of limitation and taking cognizance of the difficulties caused by the lockdown. The IBBI had also issued regulations providing for the exclusion of the lockdown

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## 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 orders of the Supreme Court of India and the National Company

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**Reasoning:** The court reasoned that the lockdown imposed by the government prevented the Resolution

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**Interpretation:** The legal issue is interpreted in the context of the COVID-19 pandemic and the

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

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## Parties

- **Judges:** RaghuNa…; Ajay Kumar…
- **Appellants:** Oriental Bank of…
- **Respondents:** M/s Hike Leather…
- **Advocates:** Pulkit…

## Timeline

- **2020-02-20 — CIRP Init…**: CIRP initiated against M/s…
- **2020-03-23 — Supreme Cour…**: Supreme Court order extending the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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