# In the matter of Ahalya Trading Private Limited

> NCLT judgment dated 2023-08-31. Citation: TCN-2023-NCLT-01830. The application IA 3738/2023 was filed by the Interim Resolution Professional (IRP) seeking…

- **Court:** NCLT
- **Order date:** 31 Aug 2023
- **Citation:** TCN-2023-NCLT-01830
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ahalya-trading-private-limited-98003a8c

## Summary

### Background

The application IA 3738/2023 was filed by the Interim Resolution Professional (IRP) seeking exclusion of the period from 2022-09-27 until the date of the order on the application from the computation of the statutory period of the Corporate Insolvency Resolution Process (CIRP) under Section 12(1) of the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor, Ahilya Trading Private Limited, was admitted into CIRP vide an order dated 2022-09-27. The IRP was appointed, but the order was communicated to the applicant only on 2023-08-10, leading to a gap of 11 months. The applicant was unable to give effect to the order as per the provisions of the code read with CIRP Regulations.

## Facts

The Corporate Debtor, Ahilya Trading Private Limited, was admitted into CIRP on 2022-09-27. The order appointing the Interim Resolution Professional (IRP) was communicated to the applicant, Avanti Resources Private Limited, only on 2023-08-10, creating an 11-month gap. The Registry of the Tribunal did not intimate the IRP's appointment. The IRP filed an application (IA 3738/2023) seeking exclusion of the period from 2022-09-27 to the date of the order on the application from the computation of the statutory CIRP period. The Resolution Professional appointed was Mr. Milind Kasodakar.

## Issues and analysis

### Issue 1: Whether the period from 2022-09-27 until the date of order on the application should be excluded …

**Ratio:** The ratio is based on the principle that delays not attributable to the applicant should

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**Reasoning:** The court reasoned that the delay in communicating the order of CIRP admission to the

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**Interpretation:** Section 12(1) of the IBC is interpreted to allow for exclusion of periods where

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**Application:** The court applied this interpretation to the facts by excluding the period from

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## Parties

- **Judges:** SH. PRABHAT…; SH. VIRENDRASINGH…
- **Appellants:** M/S AVANTI…
- **Respondents:** Ahalya Trading…

## Timeline

- **2022-09-27 — CIRP Admi…**: Corporate Debtor, Ahilya Trading…
- **2022-09-27 — Order Da…**: Order passed by the Hon'ble Bench…

## 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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