Exclude Period of Judicial Intervention in calculation of CIRP Period: NCLAT

Anil Tayal, Resolution Professional for M/s. Horizon Buildcon Pvt. Ltd. Vs Committee of Creditors of M/S. Horizon Buildcon Pvt. Ltd. (NCLAT) We are of the considered opinion that the period of judicial intervention w.e.f 21st October, 2020 till 9th November, 2020 (the period covering the time spent in pursuing the extension application in the first instance) and 12th January, 2021 to 3rd February, 2021 (i.e. the period for which the orders were reserved by the Adjudicating Authority on the application) is justifiably required to be excluded while counting and computing the period of CIRP. We a...