# In the matter of Veer Gurjar Alluminium Industries Pvt. Ltd. C.P. (IB)-488-MB-2018

> NCLT judgment dated 2019-05-06. Citation: TCN-2019-NCLT-03464. The Resolution Professional (RP) filed an application seeking the exclusion of a certain period…

- **Court:** NCLT
- **Order date:** 6 May 2019
- **Citation:** TCN-2019-NCLT-03464
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/veer-gurjar-alluminium-industries-pvt-ltd-cp-ib-488-mb-2018-1843d4e6

## Summary

### Background

The Resolution Professional (RP) filed an application seeking the exclusion of a certain period from the Corporate Insolvency Resolution Process (CIRP). The application highlights a delay of 34 days in changing the name of the Interim Resolution Professional (IRP). Additionally, a stay order was issued by the Supreme Court against the admission of the petition by the NCLT on 2018-08-09. The stay remained in effect from 2018-11-12 to 2019-04-09, totaling 149 days.

## Facts

The Resolution Professional (RP) filed an application seeking the exclusion of a certain period from the Corporate Insolvency Resolution Process (CIRP). There was a delay of 34 days in changing the name of the Interim Resolution Professional (IRP). The Supreme Court issued a stay order against the admission of the petition by the NCLT on 2018-08-09. The stay was in effect from 2018-11-12 to 2019-04-09, totaling 149 days. The applicant requested the exclusion of 183 days from the CIRP period. The NCLT bench excluded 183 days from the CIRP period, extending the CIRP end date to 2019-08-07. The key facts are the delays and the stay order which impacted the CIRP timeline.

## Issues and analysis

### Issue 1: Whether the application filed by the RP seeking exclusion of certain period from the CIRP is …

**Ratio:** The ratio is based on the principles of insolvency law and the powers of the NCLT to

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**Reasoning:** The court reasoned that the RP has the right to file an application seeking exclusion of

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**Interpretation:** The interpretation involves understanding the scope and purpose of the CIRP

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** Bhaskara Pantula…; V. Nallasen…
- **Appellants:** JM Financial…
- **Respondents:** Veer GurjarAlumini…

## Timeline

- **2018-08-09 — Admission of Petition…**: The NCLT admitted the petition, but a stay order was subsequently issued by the Supreme…
- **2018-11-12 — Stay Order in…**: The stay order issued by the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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