The case involves an appeal against an order dated 08.01.2021 passed by the National Company Law Tribunal (NCLT), Hyderabad Bench, in IA No. 1079 of 2020 in CP(IB) No. 184/7/HDB/2019. The appellant, dissatisfied with the order, filed the appeal. The NCLT had observed that the Corporate Insolvency Resolution Process (CIRP) should be completed within 330 days, including extensions, and failing which, liquidation proceedings would commence. The appellant sought an extension of time to complete the CIRP from 270 to 330 days.
Mr. Ravi Sankar Deverakonda, the appellant, filed an appeal against an order dated 08.01.2021 passed by the National Company Law Tribunal (NCLT), Hyderabad Bench, in IA No. 1079 of 2020 in CP(IB) No. 184/7/HDB/2019. The order pertained to the Corporate Insolvency Resolution Process (CIRP) of Meenakshi Energy Limited, the corporate debtor. The Committee of Creditors (CoC) of Meenakshi Energy Limited, represented by State Bank of India, is the respondent. The NCLT had observed that the CIRP should be completed within 330 days, including extensions, and failing which, liquidation proceedings would commence. The appellant, directed by the CoC, sought an extension of time to complete the CIRP from 270 to 330 days, including the exclusion of the lockdown period in Telangana.
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Order passed by the National Company Law…
The NCLAT dismissed the appeal as withdrawn but…
The case involves an appeal against an order dated 08.01.2021 passed by the National Company Law Tribunal (NCLT), Hyderabad Bench, in IA No. 1079 of 2020 in CP(IB) No. 184/7/HDB/2019. The appellant, dissatisfied with the order, filed the appeal. The NCLT had observed that the Corporate Insolvency Resolution Process (CIRP) should be completed within 330 days, including extensions, and failing which, liquidation proceedings would commence. The appellant sought an extension of time to complete the CIRP from 270 to 330 days.
Mr. Ravi Sankar Deverakonda, the appellant, filed an appeal against an order dated 08.01.2021 passed by the National Company Law Tribunal (NCLT), Hyderabad Bench, in IA No. 1079 of 2020 in CP(IB) No. 184/7/HDB/2019. The order pertained to the Corporate Insolvency Resolution Process (CIRP) of Meenakshi Energy Limited, the corporate debtor. The Committee of Creditors (CoC) of Meenakshi Energy Limited, represented by State Bank of India, is the respondent. The NCLT had observed that the CIRP should be completed within 330 days, including extensions, and failing which, liquidation proceedings would commence. The appellant, directed by the CoC, sought an extension of time to complete the CIRP from 270 to 330 days, including the exclusion of the lockdown period in Telangana.
…Order passed by the National Company Law…
The NCLAT dismissed the appeal as withdrawn but…