The Appellant, a Resolution Professional of GVR Infra Projects Limited, sought exclusion of 35 days from the Corporate Insolvency Resolution Process (CIRP) timeline, representing the period during which no Resolution Professional was functioning after the removal of the Interim Resolution Professional. The application was initially rejected by the Adjudicating Authority (NCLT), Chennai, leading to the appeal. The appellant argued that the absence of a Resolution Professional hindered the CIRP. The respondent, Reliance Capital Ltd., was notified but did not appear.
GVR Infra Projects Limited was undergoing a Corporate Insolvency Resolution Process (CIRP). The Appellant was the Resolution Professional. There was a period of 35 days after the removal of the Interim Resolution Professional where no Resolution Professional was functioning. The Appellant, on behalf of the Committee of Creditors, applied to the Adjudicating Authority (NCLT), Chennai, to exclude these 35 days from the CIRP timeline. The Adjudicating Authority rejected the application. The Appellant appealed to the NCLAT. Notice was served to the Respondent, Reliance Capital Ltd., but they did not appear. The application also remained pending before the Adjudicating Authority for 18 days.
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The Adjudicating Authority (NCLT), Chennai,…
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The Appellant, a Resolution Professional of GVR Infra Projects Limited, sought exclusion of 35 days from the Corporate Insolvency Resolution Process (CIRP) timeline, representing the period during which no Resolution Professional was functioning after the removal of the Interim Resolution Professional. The application was initially rejected by the Adjudicating Authority (NCLT), Chennai, leading to the appeal. The appellant argued that the absence of a Resolution Professional hindered the CIRP. The respondent, Reliance Capital Ltd., was notified but did not appear.
GVR Infra Projects Limited was undergoing a Corporate Insolvency Resolution Process (CIRP). The Appellant was the Resolution Professional. There was a period of 35 days after the removal of the Interim Resolution Professional where no Resolution Professional was functioning. The Appellant, on behalf of the Committee of Creditors, applied to the Adjudicating Authority (NCLT), Chennai, to exclude these 35 days from the CIRP timeline. The Adjudicating Authority rejected the application. The Appellant appealed to the NCLAT. Notice was served to the Respondent, Reliance Capital Ltd., but they did not appear. The application also remained pending before the Adjudicating Authority for 18 days.
The Adjudicating Authority (NCLT), Chennai,…
The Appellant, the Resolution Professional of…
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