# In the matter of Universal Buildwel Pvt. Ltd. (IB)-456(ND)-2018

> NCLT judgment dated 2019-01-14. Citation: TCN-2019-NCLT-05259. The case involves an application filed by the Resolution Professional (RP) seeking two primary…

- **Court:** NCLT
- **Order date:** 14 Jan 2019
- **Citation:** TCN-2019-NCLT-05259
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/universal-buildwel-pvt-ltd-ib-456nd-2018-9baba0de

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) seeking two primary reliefs: exclusion of certain days from the Corporate Insolvency Resolution (CIR) process period and addressing non-compliance of CIR expenses by three major claimants. The RP argues that certain days were spent due to the inclusion of flat buyers as financial claimants and replies from the Committee of Creditors (COC) representatives. The RP seeks exclusion of the period from August 10, 2018, to November 12, 2018. Additionally, the application addresses non-compliance of CIR expenses by Dewan, Kotak Mahindra, and Hero Fin Corp.

## Facts

Pallavi Joshi Bakhru filed a case against Universal Buildwel Pvt. Ltd. The Resolution Professional (RP) filed an application seeking exclusion of certain days from the Corporate Insolvency Resolution (CIR) process period, specifically from August 10, 2018, to November 12, 2018, due to the inclusion of flat buyers as financial claimants and the need to address replies from the Committee of Creditors (COC) representatives. The application also addressed non-compliance of CIR expenses by three major claimants: Dewan, Kotak Mahindra, and Hero Fin Corp. The RP's appointment of Mr. Atul Kansal was also under consideration. The NCLAT's guidelines in Quinn Logistics India Pvt. Ltd. V/s. Mack Soft Tech Pvt. Ltd. & Others were considered.

## Issues and analysis

### Issue 1: Whether the exclusion of certain days from the Corporate Insolvency Resolution (CIR) process period …

**Ratio:** The guidelines for excluding certain periods from the Resolution Process, as given by the

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**Reasoning:** The court considered the RP's submission that certain days were spent due to the

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**Interpretation:** The exclusion of certain days from the CIR process period is permissible if

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**Application:** The court allowed the exclusion of 108 days, thereby extending the period of

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Appellants:** Pallavi Joshi…
- **Respondents:** Universal…; Universal…

## Timeline

- **2018-08-10 — Start of Period for…**: The Resolution Professional (RP) sought exclusion of certain days starting from August…
- **2018-11-12 — End of Period for…**: The Resolution Professional (RP) sought exclusion of certain days ending on November 12,…

## 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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