Lorenzo Vitrified Tiles Private ... vs Committee Of Creditors Of Vrundavan ... on 20 May, 2026
In State Bank of India vs. M/s Manibhadra Polycot and Ors.
(supra) this Appellate Tribunal has set aside the judgment of the
Adjudicating Authority whereby the application filed by the Resolution
Professional for initiation of the liquidation of the CD was allowed. On an
appeal filed before the Hon'ble Supreme Court in State Bank of India vs.
M/s Manibhadra Polycot and Ors. Civil Appeal Nos. 4392-4393 of 2019,
vide order dated 09.08.2019, Apex Court set aside the order of this
Appellate Tribunal and refused to exclude 21 days from being counted as
part of 270 days' period on the ground that first two sets of days namely 7
days and 11 days cannot be excluded for the reason that they are not
incurred in any litigation process and also noticed that the resolution plan
in question is submitted beyond time stipulated.