CA 682/2019 was filed by the Resolution Professional (RP) seeking an extension of the Corporate Insolvency Resolution (CIR) period. The initial 180-day period 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 Corporate Debtor's assets 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 period was expiring 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 DRAT. Possession of the assets has now been taken pursuant to directions from the High Court of Delhi. The Committee of Creditors (COC) is of the opinion that they would be able to 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 said item appeared at Item No. 9 on the Agenda and is duly annexed with the affidavit of the RP. CA
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A resolution to seek extension of further 90…
Attendance-cum-order sheet of the hearing…
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CA 682/2019 was filed by the Resolution Professional (RP) seeking an extension of the Corporate Insolvency Resolution (CIR) period. The initial 180-day period 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 Corporate Debtor's assets 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 period was expiring 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 DRAT. Possession of the assets has now been taken pursuant to directions from the High Court of Delhi. The Committee of Creditors (COC) is of the opinion that they would be able to 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 said item appeared at Item No. 9 on the Agenda and is duly annexed with the affidavit of the RP. CA
…A resolution to seek extension of further 90…
Attendance-cum-order sheet of the hearing…
Sign in to view related legal provisions.