# In the matter of Sikkim Hydro Power Ventures Ltd. IA-3858-ND-2021 in (IB)-1635-ND-2018

> NCLT judgment dated 2021-09-03. Citation: TCN-2021-NCLT-01192. The Resolution Professional filed an application seeking exclusion of 90 days from the CIRP…

- **Court:** NCLT
- **Order date:** 3 Sept 2021
- **Citation:** TCN-2021-NCLT-01192
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sikkim-hydro-power-ventures-ltd-ia-3858-nd-2021-in-ib-1635-nd-2018-98a4f734

## Summary

### Background

The Resolution Professional filed an application seeking exclusion of 90 days from the CIRP period due to a pandemic lockdown between 2021-04-19 and 2021-05-03. A second prayer sought a 60-day extension after the initial 270-day period expired on 2021-04-27. The application was filed in April 2021 but not actively pursued. The Corporate Debtor has now settled with the Operational Creditors, who are also CoC members. The delay was attributed to the settlement process and the Operational Creditor's need to obtain documents from the government related to the Settlement Agreement and payment.

## Facts

An application was filed by the Resolution Professional seeking exclusion of 90 days from the CIRP period due to a pandemic-related lockdown between April 19, 2021, and May 3, 2021. A second prayer sought a 60-day extension of the CIRP beyond the initial 270 days, which expired on April 27, 2021. The application was filed in April 2021 but was not actively pursued. The Corporate Debtor has settled the matter with the Operational Creditors, who are also members of the Committee of Creditors (CoC). The reason for not pursuing the application was the ongoing settlement process and the Operational Creditor's need to obtain documents from the government related to the Settlement Agreement and payment. The payment to both claimants, who are CoC members, has been made, and

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## Issues and analysis

### Issue 1: Whether the Resolution Professional's request for exclusion of 90 days from the CIRP period due to …

**Ratio:** The court has the discretion to grant or deny exclusion of time periods from the CIRP

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**Reasoning:** The court was not inclined to grant the exclusion of the lockdown period, citing the

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**Interpretation:** The court interprets that the Resolution Professional and CoC did not

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**Application:** The court applied the ratio by considering the specific facts of the case,

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## Parties

- **Judges:** DEEPTI M…; SUMITA PURK…; +1 more
- **Appellants:** AF Consult India…
- **Respondents:** Sikkim Hydro…

## Timeline

- **2021-04-19 — Pandemic Lockd…**: Start of the 90-day pandemic lockdown…
- **2021-05-03 — Pandemic Lock…**: End of the 90-day pandemic lockdown…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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