Restarting entire process from stage of Information Memorandum not justified as CIRP period already ended

Authorised Representative For Granite Gate Properties Private Limited Vs Devendra Singh (NCLAT Delhi)

NCLAT Delhi held that it is not justified to start entire process from stage of Information Memorandum since CIRP period has already came to an end and Adjudicating Authority has remitted matter to CoC for fresh consideration of resolution plan.

Facts- These appeals have been field challenging the same order dated 24.07.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench. The Adjudicating Authority vide the impugned order dated 24.07.2024 issued various directions on different applications including application filed by the Resolution Professional for approval of the Resolution Plan submitted by M/s SMV Agencies Private Limited, which was approved by the Committee of Creditors (CoC) on 22.07.2020.

Conclusion- Held that water and sewer charges are CIRP cost and unpaid water and sewer charged are liable to be paid as CIRP cost.

Held that the period during which the applications remained pending before the Adjudicating Authority and decided on 24.07.2024 and the period during which the Appeals against the said order remained pending before this Tribunal need to be excluded from the CIRP period, which is hereby excluded. Further extension of 90 days is granted for completion of entire process of the CIRP.