The case involves an application (I.A 2954/2020) seeking an extension of the Corporate Insolvency Resolution Process (CIRP). The applicant, the Interim Resolution Professional (IRP), requested a 60-day extension due to the lockdown. An earlier extension of 50 days had already been granted. The maximum period of the CIRP of 330 days had expired on 04.02.2020.
M/s. Punjab & Sind Bank filed an application under Section 7 of the IBC, 2016. The Interim Resolution Professional (IRP) applied for a 60-day extension of the CIRP due to the lockdown. The lockdown period was in effect from March 24th to May 31st, 2020, with restrictions continuing until June 2020. An earlier extension of 50 days had been granted. The maximum CIRP period of 330 days expired on February 4, 2020. The court considered these circumstances when deciding on the extension.
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The maximum period of…
An extension of…
The case involves an application (I.A 2954/2020) seeking an extension of the Corporate Insolvency Resolution Process (CIRP). The applicant, the Interim Resolution Professional (IRP), requested a 60-day extension due to the lockdown. An earlier extension of 50 days had already been granted. The maximum period of the CIRP of 330 days had expired on 04.02.2020.
M/s. Punjab & Sind Bank filed an application under Section 7 of the IBC, 2016. The Interim Resolution Professional (IRP) applied for a 60-day extension of the CIRP due to the lockdown. The lockdown period was in effect from March 24th to May 31st, 2020, with restrictions continuing until June 2020. An earlier extension of 50 days had been granted. The maximum CIRP period of 330 days expired on February 4, 2020. The court considered these circumstances when deciding on the extension.
The maximum period of…
An extension of…