# In the matter of Spark Green Energy (Satara) Limited I.A. NO. 2210-MB-C-II-2020
In C.P (IB) No. 4260-MB-C-II-2019

> NCLT judgment dated 2021-02-05. Citation: TCN-2021-NCLT-03110. The application was filed by Mr. Anil Rajkotia, the Resolution Professional of M/s Spark Green…

- **Court:** NCLT
- **Order date:** 5 Feb 2021
- **Citation:** TCN-2021-NCLT-03110
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/spark-green-energy-satara-limited-ia-no-2210-mb-c-ii-2020-in-cp-ib-no-4260-mb-c-0f41f437

## Summary

### Background

The application was filed by Mr. Anil Rajkotia, the Resolution Professional of M/s Spark Green Energy (Satara) Limited, seeking an exclusion of the period from 25.03.2020 to 30.09.2020 (190 days) due to the nationwide lockdown. The purpose was to correctly calculate the 180-day period and the subsequent 90-day extension for completing the Corporate Insolvency Resolution Process (CIRP). The applicant also sought exemption for the period of pendency of the application until its disposal, requesting that the extended CIRP period be counted from the date of receipt of the order copy.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Spark Green Energy (Satara) Limited. The CIRP commenced on 28.11.2019. The initial 180-day period for CIRP was set to expire on 28.05.2020, which fell during the nationwide COVID-19 lockdown. The Resolution Professional (RP), Mr. Anil Rajkotia, filed an application seeking exclusion of the lockdown period from 25.03.2020 to 30.09.2020 (190 days) for the purpose of calculating the CIRP timeline. The Committee of Creditors (CoC) had approved an extension of the CIRP period by 90 days. The RP had received 7 expressions of interest for the Corporate Debtor, and one resolution plan had been submitted by M/s Hangji Global Ltd. The applicant also referred to a decision of Hon'ble NCLAT whereby the

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## Issues and analysis

### Issue 1: Whether the period of the nationwide lockdown due to the COVID-19 pandemic should be excluded from …

**Ratio:** The ratio is based on Section 12(3) of the Insolvency and Bankruptcy Code, 2016, read

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**Reasoning:** The court reasoned that the nationwide lockdown imposed due to the COVID-19 pandemic

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**Interpretation:** The interpretation is that the legislative intent behind the IBC is to provide

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**Application:** The court applied this ratio to the specific facts of the case, noting that the

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## Parties

- **Judges:** Harihar Prakash…; RavikumarDu…
- **Appellants:** Anil Raj…
- **Respondents:** M/s Spark Green…; Union Bank of…
- **Advocates:** Savita Na…

## Timeline

- **2019-11-28 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP) commenced against M/s Spark Green Energy…
- **2019-11-28 — CIRP Commen…**: CIRP commenced w.e.f.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12(3) — Time-limit for completion of insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12)

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