Allowed

In the matter of Maitreyi Capital Advisors Pvt. Ltd. Ia (I.B.C)-2570(MB)2021 In C.P. (IB)-2422(MB)2018

NCLT2 Nov 2021

Case brief

AI extract

What is this about?

The National Company Law Tribunal Mumbai Bench allowed two applications filed by the Resolution Professional. The first sought an extension of time for completing the Insolvency Resolution Process, and the second sought exclusion of time impacted by the Covid-19 pandemic. Both were permitted.

What did the court decide?

Extension of 90 days and exclusion of time from 25.03.2020 to 02.10.2021 were granted to the Resolution Professional.

In the matter of Maitreyi Capital Advisors Pvt. Ltd. Ia… — Insolvency and Bankruptcy | NCLT (2021)

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NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT-II

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5. IA (I.B.C)/2570(MB)2021 In C.P. (IB)/2422(MB)2018

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CORAM: SHRI SHYAM BABU GAUTAM HON’BLE MEMBER (T)

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JUSTICE P. N. DESHMUKH HON’BLE MEMBER (J)

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ORDER SHEET OF THE HEARING OF MUMBAI BENCH OF THE NATIONAL COMPANY LAW TRIBUNAL ON 02.11.2021

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NAME OF THE PARTIES: - M/S. AUGUSTA CONSULTANTS AND ADVISORS PVT. LTD. V/s

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MAITREYI CAPITAL ADVISORS P. LTD.

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Section: 12 (2) of Insolvency and Bankruptcy Code, 2016

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ORDER

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The matter is taken up through Virtual Hearing (VC).

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IA 2570/2021 :- Senior Counsel, Mr. Vinod Bhadang appeared for the applicant. The present application filed by the Resolution Professional seeking extension of 90 days to complete the Corporate Insolvency Resolution Process.

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Having considered the submissions of Counsel appearing for the applicant, this Bench deems it fit and proper to extend the time commencing from today’s i.e. 02.11.2021 onward till 90 days i.e. 31.01.2022 to complete the Corporate Insolvency Resolution Process. With the above observations, the

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IA bearing no . 2570/2021 is allowed and disposed of.

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Sd/Sd/SHYAM BABU GAUTAM JUSTICE P. N. DESHMUKH Member (Technical) Member (Judicial)

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02.11.2021

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NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT-II

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6. IA (I.B.C)/2569(MB)2021 In C.P. (IB)/2422(MB)2018

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CORAM: SHRI SHYAM BABU GAUTAM HON’BLE MEMBER (T)

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JUSTICE P. N. DESHMUKH

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HON’BLE MEMBER (J)

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ORDER SHEET OF THE HEARING OF MUMBAI BENCH OF THE NATIONAL COMPANY LAW TRIBUNAL ON 02.11.2021

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NAME OF THE PARTIES: - M/S. AUGUSTA CONSULTANTS AND ADVISORS PVT. LTD.

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V/s

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MAITREYI CAPITAL ADVISORS P. LTD.

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Section: 60 (5) of Insolvency and Bankruptcy Code, 2016

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ORDER

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The matter is taken up through Virtual Hearing (VC).

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IA 2569/2021 :- Counsel, Mr. Aniruth Purusothaman appeared for the Applicant/Resolution Professional. The present application filed by the Resolution Professional under Regulation 40C of the IBBI (Insolvency Resolution Process for Corporate Person) Regulations 2016 read with section 60 (5) of the Insolvency and Bankruptcy Code, 2016 and Rule 11 of the National Company Law Tribunal Rules, 2016 seeking exclusion of time with effect from 25.03.2020 till 02.10.2021 for completion of Corporate Insolvency Resolution Process impacted due to Covid-19 Pandemic outbreak.

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Having considered the submission of the counsel appearing for the Resolution Professional, and on perusal of the records and reasons specified in the present application. --2—

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--2--

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This Bench is of the considered view that the exclusion of time as sought by the Resolution Professional in this application deserves to be allowed. Accordingly, the exclusion of time as prayed in the application is granted. With the above observations, the IA bearing no. 2569/2021 is allowed and disposed of .

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Sd/SHYAM BABU GAUTAM Member (Technical) 02.11.2021

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Sd/JUSTICE P. N. DESHMUKH Member (Judicial)

In the matter of Maitreyi Capital Advisors Pvt. Ltd. Ia (I.B.C)-2570(MB)2021 In C.P. (IB)-2422(MB)2018

Case brief

What is this about?

What did the court decide?

In the matter of Maitreyi Capital Advisors Pvt. Ltd. Ia (I.B.C)-2570(MB)2021 In C.P. (IB)-2422(MB)2018

Case brief

What is this about?

What did the court decide?

What the court decided

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