The case involves an application filed by the Resolution Professional under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking exclusion of a period of 21 days from the order dated 13.08.2019. The admission order was passed by the NCLT, Mumbai Bench on 11.03.2019. The Interim Resolution Professional (IRP) was appointed on 22.04.2019. An order dated 05.09.2019 clarified that the commencement of the Corporate Insolvency Resolution Process (CIRP) would be from 22.04.2019. The applicant filed CA No. 77/CTB/2019 for exclusion of 57 days from the CIRP, which was allowed on 16.01.2020. The CIRP was scheduled to end on 14.03.2020. The applicant stated that a Resolution Plan was underway and the Corporate Debtor was an ongoing concern. The applicant/Resolution
…The Resolution Professional filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking exclusion of 21 days from the CIRP order dated 13.08.2019. The NCLT, Mumbai Bench admitted the case on 11.03.2019. The IRP was appointed on 22.04.2019, and the CIRP commencement date was clarified as 22.04.2019. CA No. 77/CTB/2019 was filed for exclusion of 57 days, which was allowed on 16.01.2020. The CIRP was to end on 14.03.2020. The Resolution Professional cited a fire incident on 18.09.2019 at the Corporate Debtor's power plant as a reason for seeking the exclusion. The CoC unanimously decided to file the application for exclusion of 21 days. The applicant referenced a Supreme Court judgment (Committee of Creditors of Essar Vs. Satish Kumar
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The case involves an application filed by the Resolution Professional under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking exclusion of a period of 21 days from the order dated 13.08.2019. The admission order was passed by the NCLT, Mumbai Bench on 11.03.2019. The Interim Resolution Professional (IRP) was appointed on 22.04.2019. An order dated 05.09.2019 clarified that the commencement of the Corporate Insolvency Resolution Process (CIRP) would be from 22.04.2019. The applicant filed CA No. 77/CTB/2019 for exclusion of 57 days from the CIRP, which was allowed on 16.01.2020. The CIRP was scheduled to end on 14.03.2020. The applicant stated that a Resolution Plan was underway and the Corporate Debtor was an ongoing concern. The applicant/Resolution
…The Resolution Professional filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking exclusion of 21 days from the CIRP order dated 13.08.2019. The NCLT, Mumbai Bench admitted the case on 11.03.2019. The IRP was appointed on 22.04.2019, and the CIRP commencement date was clarified as 22.04.2019. CA No. 77/CTB/2019 was filed for exclusion of 57 days, which was allowed on 16.01.2020. The CIRP was to end on 14.03.2020. The Resolution Professional cited a fire incident on 18.09.2019 at the Corporate Debtor's power plant as a reason for seeking the exclusion. The CoC unanimously decided to file the application for exclusion of 21 days. The applicant referenced a Supreme Court judgment (Committee of Creditors of Essar Vs. Satish Kumar
…The NCLT, Mumb…
The Interim Re…