Time extension under Regulation 44(2) of Liquidation Process Regulations, 2016 – Mr. Manish S Buchasia, Liquidator of Skyline Capital Pvt. Ltd. – NCLT Mumbai Bench
July 26, 2021
The Adjudicating Authority observed that we are satisfied with the submission that the liquidation period needs to be extended. Accordingly, prayer of Applicant is allowed the liquidation period is extended by six months from today. Further the period consumed During the lockdown period has to be excluded/exempted from counting the period prescribed for completing the process of liquidation as per the suo moto decision of Hon’ble Supreme Court in “Miscellaneous Application No. 665/2021 in SMW(C) No. 3/2020”by extending/exempting the period from 15thMarch 2020 till 14th March 21 and again now until further order.