# In the matter of Kindle Developers Pvt. Ltd. C.A. No. 815-C-II-ND-2018 In C.P. No. IB - 470-ND-2017

> NCLT judgment dated 2019-01-14. Citation: TCN-2019-NCLT-05258. The case involves an application filed by the Resolution Professional (RP), Mr. Sivaraman,…

- **Court:** NCLT
- **Order date:** 14 Jan 2019
- **Citation:** TCN-2019-NCLT-05258
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kindle-developers-pvt-ltd-ca-no-815-c-ii-nd-2018-in-cp-no-ib-470-nd-2017-8d530aa5

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP), Mr. Sivaraman, seeking exclusion of 143 days from the Corporate Insolvency Resolution Process (CIRP) timeline. The period in question spans from 2018-03-09 to 2018-07-30. An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 was admitted against the Corporate Debtor, and Mr. Yogesh Kumar Tyagi was initially appointed as the interim resolution professional. However, due to delays in uploading the admission order on the NCLT website and subsequent issues, Mr. Anurag Nirbhaya was appointed as the new IRP, replacing Mr. Tyagi. An application under Section 19 of the Code was filed by the then IRP Anurag Nirbhaya against the directors of the Corporate Debtor. An interim

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## Facts

On 2018-03-09, an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 was admitted against Kindle Developers Pvt. Ltd., the Corporate Debtor. Mr. Yogesh Kumar Tyagi was initially appointed as the interim resolution professional (IRP). However, the order admitting the application was not uploaded to the NCLT website until 2018-06-22. Mr. Tyagi only became aware of his appointment on 2018-06-22. Subsequently, Mr. Anurag Nirbhaya was appointed as the new IRP in place of Mr. Tyagi. An application under Section 19 of the Code was filed by the then IRP Anurag Nirbhaya against the directors of the Corporate Debtor. On 2018-10-30, an interim application was filed by the committee of creditors (COC) praying for confirmation of Mr. Kashi Viswanathan Sivaraman

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## Issues and analysis

### Issue 1: Whether the period of 143 days from 2018-03-09 to 2018-07-30 should be excluded from the Corporate …

**Ratio:** The Adjudicating Authority/Appellate Tribunal has the power to exclude certain periods

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**Reasoning:** The Tribunal reasoned that for the first 105 days (until 2018-06-22), no resolution

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**Interpretation:** The interpretation of the law allows for the exclusion of time periods in the

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**Application:** The Tribunal applied the ratio to the facts of the case, noting that the delay

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## Parties

- **Judges:** Ina Mal…; V.K. SUB…
- **Appellants:** Amit Kumar…
- **Respondents:** Kindle Developers…
- **Advocates:** Shivani K…

## Timeline

- **2018-03-09 — Section 7 Application…**: An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 was admitted…
- **2018-06-22 — Order Uploaded on NCLT…**: The order admitting the Section 7…

## 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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