The case involves IA Nos. 274/2020 and 275/2020 in CP (IB) No. 105/Chd/Hry/2019, concerning the Corporate Insolvency Resolution Process (CIRP) of C & C Towers Limited. 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 was initiated on 10.10.2019, and the initial 180-day period was to conclude on 07.04.2020. The proceedings were impacted by the COVID-19 pandemic and subsequent lockdowns.
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 2019-10-10. The initial 180-day CIRP period was to be completed on 2020-04-07. Mr. Gaurav Khurana is the Resolution Professional for C&C Towers Limited. The COVID-19 pandemic led to a lockdown imposed from 2020-03-25, with Unlock 3.0 commencing on 2020-08-01. The Resolution Professional filed IA No. 275/2020 seeking a 90-day extension of the CIRP period, excluding the lockdown period. The Hon'ble Supreme Court addressed the extension of limitation periods in Suo Motu Writ Petition (Civil) No(s).3/2020. The NCLAT addressed the exclusion of the lockdown period from the CIRP
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Corporate Insolvency…
Supreme Court order in Suo Motu Writ…
The case involves IA Nos. 274/2020 and 275/2020 in CP (IB) No. 105/Chd/Hry/2019, concerning the Corporate Insolvency Resolution Process (CIRP) of C & C Towers Limited. 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 was initiated on 10.10.2019, and the initial 180-day period was to conclude on 07.04.2020. The proceedings were impacted by the COVID-19 pandemic and subsequent lockdowns.
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 2019-10-10. The initial 180-day CIRP period was to be completed on 2020-04-07. Mr. Gaurav Khurana is the Resolution Professional for C&C Towers Limited. The COVID-19 pandemic led to a lockdown imposed from 2020-03-25, with Unlock 3.0 commencing on 2020-08-01. The Resolution Professional filed IA No. 275/2020 seeking a 90-day extension of the CIRP period, excluding the lockdown period. The Hon'ble Supreme Court addressed the extension of limitation periods in Suo Motu Writ Petition (Civil) No(s).3/2020. The NCLAT addressed the exclusion of the lockdown period from the CIRP
…Corporate Insolvency…
Supreme Court order in Suo Motu Writ…