The case involves IA Nos. 274/2020 and 275/2020 in CP (IB) No. 105/Chd/Hry/2019, concerning the Insolvency and Bankruptcy Code, 2016. IA No. 274/2020 was filed by the applicant seeking an urgent hearing of IA No. 275/2020. IA No. 275/2020 was filed by the Resolution Professional of C & C Towers Ltd. seeking an extension of the CIRP period by 90 days beyond the initial 180 days, accounting for the COVID-19 lockdown period. The CIRP proceedings against C & C Towers Limited were initiated on 10.10.2019, with the initial 180-day period slated to conclude on 07.04.2020. However, the COVID-19 pandemic and subsequent lockdowns disrupted the process.
Kussum Chadha Ahuja & another are the Financial Creditors. C & C Towers Limited is the Corporate Debtor undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated on 10.10.2019. The initial 180-day CIRP period was to be completed on 07.04.2020. The COVID-19 pandemic led to a lockdown imposed from 25.03.2020, with Unlock 3.0 commencing on 01.08.2020. The Resolution Professional filed IA No. 275/2020 seeking an extension of the CIRP period by 90 days beyond the initial 180 days, excluding the lockdown period. The applicant also filed IA No. 274/2020 seeking an urgent hearing of IA No. 275/2020. The Supreme Court and NCLAT issued orders addressing the extension of limitation periods and exclusion of lockdown periods in insolvency
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Corporate Insolvency…
Supreme Court extended…
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The case involves IA Nos. 274/2020 and 275/2020 in CP (IB) No. 105/Chd/Hry/2019, concerning the Insolvency and Bankruptcy Code, 2016. IA No. 274/2020 was filed by the applicant seeking an urgent hearing of IA No. 275/2020. IA No. 275/2020 was filed by the Resolution Professional of C & C Towers Ltd. seeking an extension of the CIRP period by 90 days beyond the initial 180 days, accounting for the COVID-19 lockdown period. The CIRP proceedings against C & C Towers Limited were initiated on 10.10.2019, with the initial 180-day period slated to conclude on 07.04.2020. However, the COVID-19 pandemic and subsequent lockdowns disrupted the process.
Kussum Chadha Ahuja & another are the Financial Creditors. C & C Towers Limited is the Corporate Debtor undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated on 10.10.2019. The initial 180-day CIRP period was to be completed on 07.04.2020. The COVID-19 pandemic led to a lockdown imposed from 25.03.2020, with Unlock 3.0 commencing on 01.08.2020. The Resolution Professional filed IA No. 275/2020 seeking an extension of the CIRP period by 90 days beyond the initial 180 days, excluding the lockdown period. The applicant also filed IA No. 274/2020 seeking an urgent hearing of IA No. 275/2020. The Supreme Court and NCLAT issued orders addressing the extension of limitation periods and exclusion of lockdown periods in insolvency
…Corporate Insolvency…
Supreme Court extended…
Sign in to view related legal provisions.