The case pertains to an application filed by the Resolution Professional (RP) under Section 12(2) of the Insolvency & Bankruptcy Code, 2016, seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period by 90 days. The initial 180-day CIRP period expired on 16/03/2020. The Committee of Creditors (CoC) unanimously approved the extension in its 6th meeting held on 29th February 2020.
The Resolution Professional (RP) filed an application under Section 12(2) of the Insolvency & Bankruptcy Code, 2016, seeking a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) period. The initial 180-day CIRP period expired on 16/03/2020. Three Expressions of Interest (EoI) were received from interested parties. The submission of the Resolution Plan was initially fixed for 25/02/2020, but prospective Resolution Applicants requested 45 additional days to prepare the plan. The Committee of Creditors (CoC) unanimously approved the extension in its 6th meeting held on 29th February 2020. The RP argued that the extension would enable him to resolve and explore maximization of the stressed assets of the Corporate Debtor. The 6th Progress Report was
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The initial date fixed…
The Committee of Creditors (CoC) unanimously…
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The case pertains to an application filed by the Resolution Professional (RP) under Section 12(2) of the Insolvency & Bankruptcy Code, 2016, seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period by 90 days. The initial 180-day CIRP period expired on 16/03/2020. The Committee of Creditors (CoC) unanimously approved the extension in its 6th meeting held on 29th February 2020.
The Resolution Professional (RP) filed an application under Section 12(2) of the Insolvency & Bankruptcy Code, 2016, seeking a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) period. The initial 180-day CIRP period expired on 16/03/2020. Three Expressions of Interest (EoI) were received from interested parties. The submission of the Resolution Plan was initially fixed for 25/02/2020, but prospective Resolution Applicants requested 45 additional days to prepare the plan. The Committee of Creditors (CoC) unanimously approved the extension in its 6th meeting held on 29th February 2020. The RP argued that the extension would enable him to resolve and explore maximization of the stressed assets of the Corporate Debtor. The 6th Progress Report was
…The initial date fixed…
The Committee of Creditors (CoC) unanimously…
Sign in to view related legal provisions.