The period of lockdown COVID19 shall be excluded for the purpose of counting of the period for Resolution Process under Section 12 of the IBC, in all cases where CIRP has been initiated & pending before any Bench of the NCLT or in Appeal before NCLAT-Suo Moto Order dated 30.03.2020

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If any Public depositor applies showing due of the debt claiming itself as operational creditor and the Resolution Professional or the Tribunal do not accept the claim on the ground that they are not financial creditor, we allow the appellant to raise the question before the Tribunal and if any adverse decision is given by the Tribunal, it will be open to the appellant to raise the issue before NCLAT- Hind Motors India Ltd. Vs. Adjudicating Authority NCLT, Chandigarh – NCLAT New Delhi

IBC-Case Laws-NCLAT
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