The Resolution Professional filed an application under Section 12(2) & (3) of the Insolvency and Bankruptcy Code, 2016, seeking exclusion of lockdown periods and extension of the Corporate Insolvency Resolution Process (CIRP) period due to delays caused by the COVID-19 pandemic and the process of resolution plan approval.
The Resolution Professional (RP), Mr. Vijay Kumar Gupta, filed an application under Section 12(2) & (3) of the Insolvency and Bankruptcy Code, 2016, seeking to exclude a lockdown period of 49 days from April 19, 2021, to June 17, 2021. Additionally, the RP requested an extension of the Corporate Insolvency Resolution Process (CIRP) by 90 days from November 11, 2021, to February 9, 2022, and a further extension of 60 days from February 10, 2022, to April 11, 2022. A final extension of 98 days beyond the 330-day limit, from April 12, 2022, to July 18, 2022, was also sought.
…The Corporate Insolvency Resolution Process…
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The Resolution Professional filed an application under Section 12(2) & (3) of the Insolvency and Bankruptcy Code, 2016, seeking exclusion of lockdown periods and extension of the Corporate Insolvency Resolution Process (CIRP) period due to delays caused by the COVID-19 pandemic and the process of resolution plan approval.
The Resolution Professional (RP), Mr. Vijay Kumar Gupta, filed an application under Section 12(2) & (3) of the Insolvency and Bankruptcy Code, 2016, seeking to exclude a lockdown period of 49 days from April 19, 2021, to June 17, 2021. Additionally, the RP requested an extension of the Corporate Insolvency Resolution Process (CIRP) by 90 days from November 11, 2021, to February 9, 2022, and a further extension of 60 days from February 10, 2022, to April 11, 2022. A final extension of 98 days beyond the 330-day limit, from April 12, 2022, to July 18, 2022, was also sought.
…The Corporate Insolvency Resolution Process…
Start date of the…
Sign in to view related legal provisions.