NCLT Mumbai: Exclusion Of Stay Period Of CIRP Petition Doesn't Postpone Insolvency Commencement Date Under IBC

The National Company Law Tribunal ('NCLT') Mumbai bench comprising Justice V.G. Bisht (Retd.) (Judicial Member) and Mr. Prabhat Kumar (Technical Member) held that exclusion of period of stay of Corporate Insolvency Resolution Process (“CIRP”) petition does not lead to postponement of Insolvency commencement date under Insolvency and Bankruptcy Code, 2016...