CA 682/2019 was filed by the Resolution Professional (RP) seeking an extension of the Corporate Insolvency Resolution (CIR) period, which was set to expire on June 9, 2019. The resolution process was at the stage of considering expressions of interest. A difficulty arose because the assets of the Corporate Debtor had been attached under orders of the Debt Recovery Appellate Tribunal (DRAT). Possession of the assets has now been taken pursuant to directions from the High Court of Delhi. The Committee of Creditors (COC) believes they can process the expressions of interest. A resolution to extend the CIR period by 90 days was taken in a meeting on May 9, 2019.
The Resolution Professional (RP) filed CA 682/2019 seeking an extension of the Corporate Insolvency Resolution (CIR) period. The initial 180-day CIR period was expiring on June 9, 2019. The resolution process was at the stage of considering expressions of interest. The assets of the Corporate Debtor were previously attached under orders of the DRAT, creating a difficulty in the CIR process. Possession of the assets was subsequently taken pursuant to directions from the High Court of Delhi. The Committee of Creditors (COC) expressed the opinion that they would be able to process the expressions of interest. A resolution to seek a 90-day extension was passed in a COC meeting on May 9, 2019. CA 683/2019 was filed as a status report.
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CA 682/2019 was filed by the Resolution Professional (RP) seeking an extension of the Corporate Insolvency Resolution (CIR) period, which was set to expire on June 9, 2019. The resolution process was at the stage of considering expressions of interest. A difficulty arose because the assets of the Corporate Debtor had been attached under orders of the Debt Recovery Appellate Tribunal (DRAT). Possession of the assets has now been taken pursuant to directions from the High Court of Delhi. The Committee of Creditors (COC) believes they can process the expressions of interest. A resolution to extend the CIR period by 90 days was taken in a meeting on May 9, 2019.
The Resolution Professional (RP) filed CA 682/2019 seeking an extension of the Corporate Insolvency Resolution (CIR) period. The initial 180-day CIR period was expiring on June 9, 2019. The resolution process was at the stage of considering expressions of interest. The assets of the Corporate Debtor were previously attached under orders of the DRAT, creating a difficulty in the CIR process. Possession of the assets was subsequently taken pursuant to directions from the High Court of Delhi. The Committee of Creditors (COC) expressed the opinion that they would be able to process the expressions of interest. A resolution to seek a 90-day extension was passed in a COC meeting on May 9, 2019. CA 683/2019 was filed as a status report.
A resolution was passed in the COC meeting to…
Hearing before the New…
Sign in to view related legal provisions.