The case involves an application (IA/383/CHE/2022) filed by the Liquidator in CP/1210/IB/2018, seeking exclusion of 202 days from the liquidation period due to the COVID-19 pandemic lockdown. The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor, Adept Technology Private Limited, had commenced on 26.03.2019, and liquidation was ordered on 03.09.2019. The maximum time permitted for completion of liquidation was one year from the liquidation commencement date, i.e., 03.09.2020. An earlier application (IA/585(CHE)/2021) for exclusion and extension was allowed, extending the liquidation period to 23.03.2022.
The Corporate Insolvency Resolution Process (CIRP) of Adept Technology Private Limited commenced on 26.03.2019. Liquidation was ordered on 03.09.2019. The maximum time for liquidation was one year from 03.09.2019, i.e., until 03.09.2020. The applicant was unable to complete the liquidation process due to the COVID-19 lockdown. An earlier application for exclusion and extension (IA/585(CHE)/2021) was allowed, extending the period to 23.03.2022. The Liquidator filed IA/383/CHE/2022 seeking exclusion of 202 days (up to 01.09.2022) due to the second wave of COVID-19. The Liquidator also filed IA/807/IB/2020, an avoidance transaction application, which is pending adjudication. IA/245(CHE)/2022, filed by the Liquidator against ICICI Bank, was withdrawn as the matter was
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CP/IB/121…
CIRP of Adept…
The case involves an application (IA/383/CHE/2022) filed by the Liquidator in CP/1210/IB/2018, seeking exclusion of 202 days from the liquidation period due to the COVID-19 pandemic lockdown. The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor, Adept Technology Private Limited, had commenced on 26.03.2019, and liquidation was ordered on 03.09.2019. The maximum time permitted for completion of liquidation was one year from the liquidation commencement date, i.e., 03.09.2020. An earlier application (IA/585(CHE)/2021) for exclusion and extension was allowed, extending the liquidation period to 23.03.2022.
The Corporate Insolvency Resolution Process (CIRP) of Adept Technology Private Limited commenced on 26.03.2019. Liquidation was ordered on 03.09.2019. The maximum time for liquidation was one year from 03.09.2019, i.e., until 03.09.2020. The applicant was unable to complete the liquidation process due to the COVID-19 lockdown. An earlier application for exclusion and extension (IA/585(CHE)/2021) was allowed, extending the period to 23.03.2022. The Liquidator filed IA/383/CHE/2022 seeking exclusion of 202 days (up to 01.09.2022) due to the second wave of COVID-19. The Liquidator also filed IA/807/IB/2020, an avoidance transaction application, which is pending adjudication. IA/245(CHE)/2022, filed by the Liquidator against ICICI Bank, was withdrawn as the matter was
…CP/IB/121…
CIRP of Adept…