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National Company Law Tribunal excludes lock-down period for the purpose of counting Resolution Process

National Company Law Tribunal vide its order dated 30 March 2020 extended  the period of lock-down ordered by the Central Government and the State Governments including the period as may be extended  either in whole or part of the country, where the registered office of the Corporate Debtor may be located, shall be excluded for the purpose of counting of the period for ‘Resolution Process under Section 12 of the Insolvency and Bankruptcy Code, 2016, in all cases where ‘Corporate Insolvency Resolution Process’ has been initiated and pending before any Bench of the National Company Law Tribunal or in Appeal before this Appellate Tribunal. (2) 

 It is further ordered that any interim order/ stay order passed by this Appellate Tribunal in anyone or the other Appeal under Insolvency and Bankruptcy Code, 2016 shall continue till next date of hearing, which may be notified later. NCLAT
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