# In the matter of Zenith Finesee (India) Private Limited IA No. 9-KB-2021 In CP (IB) No. 159-KB-2019

> NCLT judgment dated 2021-02-17. Citation: TCN-2021-NCLT-03019. This is a case before the National Company Law Tribunal (NCLT), Kolkata Bench, concerning CP…

- **Court:** NCLT
- **Order date:** 17 Feb 2021
- **Citation:** TCN-2021-NCLT-03019
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/zenith-finesee-india-private-limited-ia-no-9-kb-2021-in-cp-ib-no-159-kb-2019-d8ba30ac

## Summary

### Background

This is a case before the National Company Law Tribunal (NCLT), Kolkata Bench, concerning CP (IB) No. 159/KB/2019. The order pertains to a corrigendum to a previous order dated 21.01.2021. United Bank of India is the Financial Creditor, and Zenith Finesee India Private Limited is the Corporate Debtor. The Resolution Professional (RP) is Animesh Mukhopadhyay.

## Facts

United Bank of India is the Financial Creditor in CP (IB) No. 159/KB/2019 against Zenith Finesee India Private Limited, the Corporate Debtor. Animesh Mukhopadhyay is the Resolution Professional (RP). The court convened via video conference. The RP requested the exclusion of 50 days from the CIRP period due to litigation delays in submitting a revised resolution plan. The court had previously issued an order on 21.01.2021. The court agreed to exclude a total of 104 days (54+50) from the CIRP period, extending the deadline to 12.04.2021.

## Issues and analysis

### Issue 1: Whether the period lost due to litigation delay in submitting the revised resolution plan can be …

**Ratio:** The principle is that delays attributable to litigation or other unavoidable

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**Reasoning:** The court considered the submission of the Ld. Counsel appearing for the RP, who stated

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**Interpretation:** This implies an interpretation of the IBC that allows for flexibility in

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**Application:** The court applied this principle to the specific facts by excluding the 50 days

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## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Respondents:** Zenith Finesee…

## Timeline

- **2021-01-21 — Previous…**: An order was issued in IA No. 9/KB/2021…
- **2021-02-17 — Order Da…**: The date of the current order, which is…

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