The case pertains to I.A-3689/2020 filed in IB-1413/ND/2018. The CIR process was initiated on 2019-04-02. Due to unavoidable circumstances and litigation, the 120-day period could not be utilized for making progress in the CIR process. An order was passed on 2020-02-03, excluding the 120-day period. The maximum period of 330 days was to expire on 2020-07-09. However, the lockdown commenced from 2020-03-24 till 2020-05-31, and further restrictions continued till 2020-07-31.
The CIR process for Associated Appliances Limited was initiated on 2019-04-02. Due to litigation and unavoidable circumstances, the 120-day period for the CIR process could not be utilized. An order was passed on 2020-02-03 excluding the 120-day period. The maximum period of 330 days was to expire on 2020-07-09. A lockdown was imposed from 2020-03-24 to 2020-05-31, with further restrictions until 2020-07-31. The Resolution Professional filed I.A-3689/2020 seeking an extension of time due to the disruptions caused by the lockdown. The relevance of the lockdown is that it prevented progress in the CIR process, justifying the need for an extension.
Sign in to view the parties.
The Corporate Insolvency Resolution Process…
An order was passed excluding the 120-day…
The case pertains to I.A-3689/2020 filed in IB-1413/ND/2018. The CIR process was initiated on 2019-04-02. Due to unavoidable circumstances and litigation, the 120-day period could not be utilized for making progress in the CIR process. An order was passed on 2020-02-03, excluding the 120-day period. The maximum period of 330 days was to expire on 2020-07-09. However, the lockdown commenced from 2020-03-24 till 2020-05-31, and further restrictions continued till 2020-07-31.
The CIR process for Associated Appliances Limited was initiated on 2019-04-02. Due to litigation and unavoidable circumstances, the 120-day period for the CIR process could not be utilized. An order was passed on 2020-02-03 excluding the 120-day period. The maximum period of 330 days was to expire on 2020-07-09. A lockdown was imposed from 2020-03-24 to 2020-05-31, with further restrictions until 2020-07-31. The Resolution Professional filed I.A-3689/2020 seeking an extension of time due to the disruptions caused by the lockdown. The relevance of the lockdown is that it prevented progress in the CIR process, justifying the need for an extension.
The Corporate Insolvency Resolution Process…
An order was passed excluding the 120-day…