NCLT (Kolkata Bench) : In RBL Bank Ltd. vs. MBL Infrastructures Ltd.

Where the request is not to extend the time limit but to exclude the period due to litigation, the exclusion is liable to be allowed.

Where the CIRP could not be completed within the statutory period as fixed under section 12 because of acts beyond the control of the applicants, non-exclusion of period of stay due to interim order of stay from limitation would cause grave injustice to the applicant. So the time period of continuation of the stay order preventing from approving the resolution plan, and the period taken for disposal of application shall be excluded from the 270 days fixed for conclusion of CIRP.

Link : http://ibbi.gov.in/webadmin/pdf/order/2018/Apr/18th%20Apr%202018%20in%20the%20matter%20of%20MBL%20Infrastructures%20Ltd.%20CA%20(IB)%20Nos.%20238,%20270%20&%20280-KB-2018%20IN%20CP%20(IB)%20No.%20170-KB-2017_2018-04-23%2012:51:31.pdf