CA 796/2019 was filed seeking an extension of the Corporate Insolvency Resolution (CIR) period. The Resolution Professional (RP) stated that a decision was made in a Committee of Creditors (COC) meeting on June 10, 2019, to request a 90-day extension beyond the initial 180 days to complete the resolution process. The resolution was unanimously approved by the COC members, and the application included an affidavit from the RP, indicating that resolution plans had been received and were under consideration.
M/s RJ Packwells Pvt. Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP) under the IBC, 2016. The initial CIRP period of 180 days was set to expire on June 8, 2019. The Resolution Professional (RP) applied for a 90-day extension to complete the resolution process, supported by a unanimous decision of the Committee of Creditors (COC) made on June 10, 2019. The RP's application included an affidavit stating that resolution plans had been received and were under consideration. The ex-Directors had not responded to the RP's application under Sections 19(2) and 66 of the IBC. Reliance Commercial Finance is involved, and an affidavit is to be filed by them.
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Committee of Creditors…
The initial 1…
CA 796/2019 was filed seeking an extension of the Corporate Insolvency Resolution (CIR) period. The Resolution Professional (RP) stated that a decision was made in a Committee of Creditors (COC) meeting on June 10, 2019, to request a 90-day extension beyond the initial 180 days to complete the resolution process. The resolution was unanimously approved by the COC members, and the application included an affidavit from the RP, indicating that resolution plans had been received and were under consideration.
M/s RJ Packwells Pvt. Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP) under the IBC, 2016. The initial CIRP period of 180 days was set to expire on June 8, 2019. The Resolution Professional (RP) applied for a 90-day extension to complete the resolution process, supported by a unanimous decision of the Committee of Creditors (COC) made on June 10, 2019. The RP's application included an affidavit stating that resolution plans had been received and were under consideration. The ex-Directors had not responded to the RP's application under Sections 19(2) and 66 of the IBC. Reliance Commercial Finance is involved, and an affidavit is to be filed by them.
Committee of Creditors…
The initial 1…