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Period of stay during inter-party litigation was to be excluded from period fixed for conclusion of CIRP

December 11, 2018[2019] 101 taxmann.com 219 (NCLT - Kolkata)
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IBC: Where corporate insolvency resolution process (CIRP) against corporate debtor could not be completed within statutory period fixed under section 12 due to stay order passed by NCLAT against accepted resolution plan at instance of one of resolution applicant, since NCLAT authorized NCLT to exclude inter-party litigation, said period of stay was to be excluded from period fixed for conclusion of CIRP

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