Anil Tayal Vs Committee of Creditors of M/S. Horizon Buildcon Pvt. Ltd. (NCLAT)

Last updated: 12 March 2021

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The National Company Law Appellate Tribunal (NCLAT) has ruled in favour of Anil Tayal, the Resolution Professional for M/s. Horizon Buildcon Pvt. Ltd. The NCLAT has directed that specific periods spent by the Resolution Professional in legal proceedings before the Adjudicating Authority should be excluded when calculating the Corporate Insolvency Resolution Process (CIRP) period. This decision aims to ensure that the time taken for judicial interventions does not unfairly reduce the overall CIRP timeline.

Court :
NCLAT Delhi

Brief :
23.02.2021: Resolution Professional of ‘M/s. Horizon Buildcon Pvt. Ltd.’(Corporate Debtor undergoing Corporate Insolvency Resolution Process (CIRP))is aggrieved of declining of his prayer in terms of the impugned order dated 3rdFebruary, 2021 for exclusion of period consumed in legal proceedings before the Adjudicating Authority (National Company Law Tribunal) w.e.f 21st October,2020 till 9th November, 2020 and 12th January, 2021 to 3rd February, 2021 for purposes of calculation of CIRP period.

Citation :
Company Appeal (AT) (Insolvency) No. 120 of 2021

Daily Limit Reached