The case involves IA 433/2019 filed in C.P. (I.B) No. 238/NCLT/AHM/2018 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The application seeks an extension of time for the Corporate Insolvency Resolution Process (CIRP) beyond the initial 180-day period. The Committee of Creditors (COC) has passed a resolution in its 4th meeting held on 17.07.2019 seeking an extension of time for a further period of 90 days and has duly authorized the RP for the same.
The case pertains to an application (IA 433/2019) filed in connection with a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). The initial 180-day statutory period for the CIRP expired on 23.07.2019, and the instant application was also filed on 23.07.2019. The Committee of Creditors (COC) held its 4th meeting on 17.07.2019, where they passed a resolution seeking a 90-day extension of the CIRP period, authorizing the Resolution Professional (RP) to pursue the same. This resolution was supported by 94.51% of the COC voting. The application before the NCLT seeks formal approval for this extension.
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The Committee of Creditors (COC) held its 4th…
The initial statutory…
The case involves IA 433/2019 filed in C.P. (I.B) No. 238/NCLT/AHM/2018 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The application seeks an extension of time for the Corporate Insolvency Resolution Process (CIRP) beyond the initial 180-day period. The Committee of Creditors (COC) has passed a resolution in its 4th meeting held on 17.07.2019 seeking an extension of time for a further period of 90 days and has duly authorized the RP for the same.
The case pertains to an application (IA 433/2019) filed in connection with a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). The initial 180-day statutory period for the CIRP expired on 23.07.2019, and the instant application was also filed on 23.07.2019. The Committee of Creditors (COC) held its 4th meeting on 17.07.2019, where they passed a resolution seeking a 90-day extension of the CIRP period, authorizing the Resolution Professional (RP) to pursue the same. This resolution was supported by 94.51% of the COC voting. The application before the NCLT seeks formal approval for this extension.
The Committee of Creditors (COC) held its 4th…
The initial statutory…