Bank of India initiated insolvency proceedings against M/s Maxim Infrastructure & Real Estate Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The Resolution Professional (RP) requested additional time to submit further details. The applicant was required to submit a revised resolution plan. The court considered the request for time and the fact that the deadline for submitting the revised resolution plan was approaching. The court directed the RP to keep the revised resolution plan on record, subject to the outcome of I.A.No.43 of 2019 and the rights of all stakeholders. This action was taken to preserve the limitation period.

Bank of India initiated insolvency proceedings against M/s Maxim Infrastructure & Real Estate Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The Resolution Professional (RP) requested additional time to submit further details. The applicant was required to submit a revised resolution plan. The court considered the request for time and the fact that the deadline for submitting the revised resolution plan was approaching. The court directed the RP to keep the revised resolution plan on record, subject to the outcome of I.A.No.43 of 2019 and the rights of all stakeholders. This action was taken to preserve the limitation period.