The case pertains to an application filed under Section 12(2) of the Insolvency and Bankruptcy Code (IBC) seeking an extension of time for the Corporate Insolvency Resolution Process (CIRP). The Resolution Professional (RP) filed the application seeking a 90-day extension beyond the initial 180-day period for completing the CIRP.
The Resolution Professional (RP) for Osaka Pharmaceuticals Pvt Ltd filed an application under Section 12(2) of the Insolvency and Bankruptcy Code (IBC) seeking an extension of time for the Corporate Insolvency Resolution Process (CIRP). The initial 180-day period was set to expire on 07.04.2019. The Committee of Creditors (COC) had held its 2nd meeting on 20.02.2019, where it passed a resolution to seek an extension of time, authorizing the RP to file the application. The COC voted unanimously (100%) in favor of the extension, indicating that they were the sole financial creditor. The application was filed on 12.03.19.
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The Committee of Creditors (COC) held its 2nd…
The instant application…
The case pertains to an application filed under Section 12(2) of the Insolvency and Bankruptcy Code (IBC) seeking an extension of time for the Corporate Insolvency Resolution Process (CIRP). The Resolution Professional (RP) filed the application seeking a 90-day extension beyond the initial 180-day period for completing the CIRP.
The Resolution Professional (RP) for Osaka Pharmaceuticals Pvt Ltd filed an application under Section 12(2) of the Insolvency and Bankruptcy Code (IBC) seeking an extension of time for the Corporate Insolvency Resolution Process (CIRP). The initial 180-day period was set to expire on 07.04.2019. The Committee of Creditors (COC) had held its 2nd meeting on 20.02.2019, where it passed a resolution to seek an extension of time, authorizing the RP to file the application. The COC voted unanimously (100%) in favor of the extension, indicating that they were the sole financial creditor. The application was filed on 12.03.19.
The Committee of Creditors (COC) held its 2nd…
The instant application…