The case involves an application (M.A. No. 1070/2019) filed in CP(IB)-166(MB)/2018, seeking exclusion of certain periods from the computation of the Corporate Insolvency Resolution Process (CIRP) period. The Resolution Professional argued for the exclusion of three days due to a delay in the appointment of the Interim Resolution Professional (IRP) and 31 days due to a delay in receiving the certified order. The NCLT considered the guidelines issued by NCLAT in Company Appeal (AT) (Insolvency) No. 185 of 2018, specifically regarding the exclusion of intervening periods in the resolution process.
Sikkim Ferro Alloys Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP). The Resolution Professional (RP) filed an application (M.A. No. 1070/2019) seeking the exclusion of certain periods from the computation of the CIRP period. CP No. 166/2018 was admitted on 23.07.2018. Mr. Neelesh Gupta was appointed as the Interim Resolution Professional (IRP) on 26.07.2018, resulting in a three-day delay. The RP also contended that the certified copy of the order dated 26.10.2018 was received on 26.11.2018, causing a 31-day delay. The Committee of Creditors (CoC) decided not to continue with Mr. Neelesh Gupta as RP and appointed Mr. Dilipkumar Natvarlal Jagad as the new RP on 26.10.2018. The NCLAT in Company Appeal (AT) (Insolvency) No. 185 of 2018 (Quinn Logistics
…Sign in to view the parties.
CP No. 166/20…
Mr. Neelesh Gupta was…
The case involves an application (M.A. No. 1070/2019) filed in CP(IB)-166(MB)/2018, seeking exclusion of certain periods from the computation of the Corporate Insolvency Resolution Process (CIRP) period. The Resolution Professional argued for the exclusion of three days due to a delay in the appointment of the Interim Resolution Professional (IRP) and 31 days due to a delay in receiving the certified order. The NCLT considered the guidelines issued by NCLAT in Company Appeal (AT) (Insolvency) No. 185 of 2018, specifically regarding the exclusion of intervening periods in the resolution process.
Sikkim Ferro Alloys Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP). The Resolution Professional (RP) filed an application (M.A. No. 1070/2019) seeking the exclusion of certain periods from the computation of the CIRP period. CP No. 166/2018 was admitted on 23.07.2018. Mr. Neelesh Gupta was appointed as the Interim Resolution Professional (IRP) on 26.07.2018, resulting in a three-day delay. The RP also contended that the certified copy of the order dated 26.10.2018 was received on 26.11.2018, causing a 31-day delay. The Committee of Creditors (CoC) decided not to continue with Mr. Neelesh Gupta as RP and appointed Mr. Dilipkumar Natvarlal Jagad as the new RP on 26.10.2018. The NCLAT in Company Appeal (AT) (Insolvency) No. 185 of 2018 (Quinn Logistics
…CP No. 166/20…
Mr. Neelesh Gupta was…