ORDER :

1. The Corporate Insolvency Resolution Process was initiated against Frontier Lifeline Private Limited (Corporate Debtor) in which the Appellant-First Step Ventures Limited filed a Resolution Plan. However, the Committee of Creditors would not consider the Resolution Plan due to completion of the Corporate Insolvency Resolution Process period of 270 days. At that stage, the Resolution Professional of Frontier Lifeline Private Limited filed application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (“I&B Code” for short) for exclusion of 43 days from 29th April, 2019 to 10th June, 2019 on the basis of the decision of the Committee of Creditors.

2. However, it was not allowed by the Adjudicating Authority (National Company Law Tribunal), Division Bench, Chennai, by impugned order dated 18th June, 2019 with following observations:

“Therefore, we are of the view that it is a fit case for liquidation on two grounds - (i) CIRP Period of 270 days is over (ii) even in the event of liquidation is ordered, it is still open to the Liquidator to sell the Corporate Debtor as a going-concern. Normally, the Resolution Plan is viable if the Resolution Plan Value is more than