The Resolution Professional filed an urgent application seeking exclusion of certain dates from the Corporate Insolvency Resolution (CIR) period. The urgency was due to the impending expiration of the 270-day CIR period. Although a Resolution Plan had been filed, amendments were necessary, requiring a revised plan. The exclusion sought was for the period from November 2, 2018, to November 4, 2018, encompassing the petition's admission date and its communication to the Resolution Professional.
The Resolution Professional (RP) filed an urgent application seeking the exclusion of specific dates from the Corporate Insolvency Resolution (CIR) period. The urgency stemmed from the imminent expiration of the 270-day CIR period. A Resolution Plan had been submitted, but revisions were necessary, necessitating a revised plan. The RP requested the exclusion of dates from 2018-11-02 to 2018-11-04, which includes the date of admission of the petition and the date it was communicated to the RP. The application was considered in light of a prior NCLAT judgment in Quinn Logistics India Pvt. Ltd. Vs. Mack Soft Tech Pvt. Ltd. & Ors. (Insolvency) AT No. 185 of 2018, which allows for the exclusion of certain periods when calculating the CIR period. The relevance of these
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The Resolution Professional filed an urgent application seeking exclusion of certain dates from the Corporate Insolvency Resolution (CIR) period. The urgency was due to the impending expiration of the 270-day CIR period. Although a Resolution Plan had been filed, amendments were necessary, requiring a revised plan. The exclusion sought was for the period from November 2, 2018, to November 4, 2018, encompassing the petition's admission date and its communication to the Resolution Professional.
The Resolution Professional (RP) filed an urgent application seeking the exclusion of specific dates from the Corporate Insolvency Resolution (CIR) period. The urgency stemmed from the imminent expiration of the 270-day CIR period. A Resolution Plan had been submitted, but revisions were necessary, necessitating a revised plan. The RP requested the exclusion of dates from 2018-11-02 to 2018-11-04, which includes the date of admission of the petition and the date it was communicated to the RP. The application was considered in light of a prior NCLAT judgment in Quinn Logistics India Pvt. Ltd. Vs. Mack Soft Tech Pvt. Ltd. & Ors. (Insolvency) AT No. 185 of 2018, which allows for the exclusion of certain periods when calculating the CIR period. The relevance of these
…The date on wh…
The date on which the admission of the…