# In the matter of Samson and Sons Builders and Developers Pvt. Ltd. IA(IBC)-106(KOB)-2022 In CP(IB)-05-KOB-2022

> NCLT judgment dated 2022-07-01. Citation: TCN-2022-NCLT-01914. The case involves an application filed by K Parameswaran Nair, the Resolution Professional (RP)…

- **Court:** NCLT
- **Order date:** 1 Jul 2022
- **Citation:** TCN-2022-NCLT-01914
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/samson-and-sons-builders-and-developers-pvt-ltd-iaibc-106kob-2022-in-cpib-05-kob-41c54ca9

## Summary

### Background

The case involves an application filed by K Parameswaran Nair, the Resolution Professional (RP) of the Corporate Debtor, Samson and Sons Builders and Developers Private Limited, seeking the exclusion of a period of 139 days from the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated following an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Vijayakumaran J against the Corporate Debtor. The initial Interim Resolution Professional (IRP), Mr. Muhammed Davood Cmk, expressed his inability to continue due to health reasons and was replaced by Mr. Lukose Joseph. Subsequently, Mr. K. Parameswaran Nair was appointed as the RP. The application for exclusion of time was filed due to delays in the CIRP process, including the

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## Facts

Vijayakumaran J, an operational creditor, initiated CIRP against Samson and Sons Builders and Developers Private Limited under Section 9 of the IBC. The Tribunal admitted the application on 2021-11-03. Muhammed Davood Cmk was initially appointed as the IRP but expressed his inability to continue due to health reasons. Lukose Joseph was then appointed as the IRP, but he also caused delays in the process. K Parameswaran Nair was subsequently appointed as the RP. The RP sought exclusion of 139 days from the CIRP timeline due to the delays, including a period when no RP was in place and delays in handing over documents. The CoC approved the resolution to seek exclusion of 139 days. The first meeting of the CoC was convened on 2021-12-23. The second meeting of the CoC was

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## Issues and analysis

### Issue 1: Whether the period during which there was no Resolution Professional in place can be excluded from …

**Ratio:** The ratio is based on the principle that if no 'Resolution Professional' is functioning

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**Reasoning:** The Tribunal reasoned that the absence of a Resolution Professional (RP) hinders the

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**Interpretation:** The interpretation is that the CIRP timeline can be adjusted to account for

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**Application:** In this case, the Tribunal applied this principle by considering the period

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## Parties

- **Judges:** Ashok Kumar…; Anil Ku…
- **Appellants:** K. Parameswaran…
- **Respondents:** Samson and Sons…; Vijayaku…

## Timeline

- **2021-11-03 — Admission of Ap…**: Tribunal admitted the application filed under Section 9 of the Insolvency and Bankruptcy…
- **2021-11-03 — Appointment…**: Mr. Muhammed Davood Cmk was appointed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 43 — Preferential transactions and relevant time](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-43)

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