The case involves an application for an extension of time for the completion of the insolvency resolution process under the Insolvency & Bankruptcy Code, 2016. The initial period of 180 days available to the Resolution Professional was set to expire on 24.01.2018. The Committee of Creditors resolved to seek an extension. The corporate debtor was initially uncooperative, hindering the flow of information to the Resolution Professional. The Resolution Professional filed CA No.150 of 2017, detailing instances of non-cooperation. The corporate debtor only started providing assistance after a stay order from the Supreme Court on 14.12.2017.
Sunrise 14 A/S Denmark is the Applicant-Financial Creditor. Muskan Power Infrastructure Ltd. is the Respondent-Corporate Debtor. The petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, was admitted on 28.07.2017. Mr. Jalesh Kumar Grover was appointed as the Interim Resolution Professional on 03.08.2017 and later confirmed on 31.08.2017. The initial 180-day period for the resolution process was to expire on 24.01.2018. The Committee of Creditors resolved on 19.01.2018 to seek an extension. The corporate debtor was initially uncooperative, leading to delays. The Resolution Professional filed CA No.150 of 2017, detailing instances of non-cooperation. Bailable warrants were issued. The corporate debtor started providing assistance only after a stay
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The petition filed by the financial…
Mr. Jalesh Kumar Grover…
The case involves an application for an extension of time for the completion of the insolvency resolution process under the Insolvency & Bankruptcy Code, 2016. The initial period of 180 days available to the Resolution Professional was set to expire on 24.01.2018. The Committee of Creditors resolved to seek an extension. The corporate debtor was initially uncooperative, hindering the flow of information to the Resolution Professional. The Resolution Professional filed CA No.150 of 2017, detailing instances of non-cooperation. The corporate debtor only started providing assistance after a stay order from the Supreme Court on 14.12.2017.
Sunrise 14 A/S Denmark is the Applicant-Financial Creditor. Muskan Power Infrastructure Ltd. is the Respondent-Corporate Debtor. The petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, was admitted on 28.07.2017. Mr. Jalesh Kumar Grover was appointed as the Interim Resolution Professional on 03.08.2017 and later confirmed on 31.08.2017. The initial 180-day period for the resolution process was to expire on 24.01.2018. The Committee of Creditors resolved on 19.01.2018 to seek an extension. The corporate debtor was initially uncooperative, leading to delays. The Resolution Professional filed CA No.150 of 2017, detailing instances of non-cooperation. Bailable warrants were issued. The corporate debtor started providing assistance only after a stay
…The petition filed by the financial…
Mr. Jalesh Kumar Grover…