# In the matter of Suman Agritech Limited IA No. 1488-2020,
IA No. 2231-2020 & IA No. 2241-2020 in CP (IB) No. 1003-MB-2019

> NCLT judgment dated 2021-01-13. Citation: TCN-2021-NCLT-03307. The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Suman…

- **Court:** NCLT
- **Order date:** 13 Jan 2021
- **Citation:** TCN-2021-NCLT-03307
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/suman-agritech-limited-ia-no-1488-2020-ia-no-2231-2020-ia-no-2241-2020-in-cp-ib-a0f4373a

## Summary

### Background

The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Suman Agritech Limited. The CIRP was ordered on 2019-08-27 and ended on 2020-10-15, including extensions. A resolution plan submitted by a Resolution Applicant was rejected by the Committee of Creditors (CoC) on 2020-10-05. An application for liquidation of the Corporate Debtor was filed on 2020-11-23. The applicant sought exclusion of the period from 2020-10-05 to 2020-11-23 due to delays caused by the Covid pandemic in appointing a liquidator.

## Facts

The Corporate Insolvency Resolution Process (CIRP) against Suman Agritech Limited was initiated on 2019-08-27 and concluded on 2020-10-15. A resolution plan was submitted by a Resolution Applicant but was rejected by the Committee of Creditors (CoC) during a meeting on 2020-10-05. Subsequently, an application for the liquidation of the Corporate Debtor was filed on 2020-11-23. The applicant sought to exclude the period from 2020-10-05 to 2020-11-23 from the CIRP timeline, citing delays caused by the Covid-19 pandemic in the appointment of a liquidator. The CoC voted 53% in favor and 57% against the Resolution Plan. The Resolution Professional had given his consent to act as a liquidator, but the CoC rejected the proposal for his appointment. No liquidator was proposed

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## Issues and analysis

### Issue 1: Whether the period from 2020-10-05 to 2020-11-23 should be excluded from the CIRP period due to …

**Ratio:** The court has the discretion to exclude certain periods from the CIRP timeline if there

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**Reasoning:** The court was satisfied with the explanation provided by the applicant regarding the

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**Interpretation:** The court interpreted the relevant provisions of the Code to allow for the

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

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## Parties

- **Judges:** V. Nallasen…; Harihar Prakash…
- **Appellants:** Allahabad…
- **Respondents:** Suman Agritech…
- **Advocates:** PS. Th…

## Timeline

- **2019-08-27 — CIRP Ord…**: Corporate Insolvency Resolution Process (CIRP)…
- **2020-10-05 — Rejection of Resolution…**: The Resolution Plan submitted by one Resolution Applicant was rejected by the CoC in the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33 — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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