The case pertains to 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) in its 4th meeting held on 17.07.2019, passed a resolution seeking an extension of 90 days and authorized the Resolution Professional (RP) to file the application.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Pani Logistics. The initial 180-day statutory period for the CIRP expired on 23.07.2019. The Resolution Professional (RP) filed IA 403/2019 seeking an extension of 90 days beyond the initial 180 days, under Section 12(2) of the IB Code. The Committee of Creditors (COC) held its 4th meeting on 17.07.2019, where it passed a resolution with 94.51% voting share, seeking an extension of time for a further period of 90 days and authorized the RP to file the application. The application for extension was also filed on 23.07.2019.
Sign in to view the parties.
The Committee of Creditors (COC) held its 4th…
The initial statutory…
The case pertains to 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) in its 4th meeting held on 17.07.2019, passed a resolution seeking an extension of 90 days and authorized the Resolution Professional (RP) to file the application.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Pani Logistics. The initial 180-day statutory period for the CIRP expired on 23.07.2019. The Resolution Professional (RP) filed IA 403/2019 seeking an extension of 90 days beyond the initial 180 days, under Section 12(2) of the IB Code. The Committee of Creditors (COC) held its 4th meeting on 17.07.2019, where it passed a resolution with 94.51% voting share, seeking an extension of time for a further period of 90 days and authorized the RP to file the application. The application for extension was also filed on 23.07.2019.
The Committee of Creditors (COC) held its 4th…
The initial statutory…