The case pertains to IA No. 776/MB/2020 in C.P. (IB) No. 2985/MB/2018 before the Mumbai Bench of the National Company Law Tribunal. The applicant sought an extension of the Corporate Insolvency Resolution Process (CIRP) period by 90 days.
The applicant filed IA 776 of 2020 seeking a 90-day extension of the CIRP period. The basis for the extension was a resolution passed by the Committee of Creditors (CoC) in its 3rd meeting held on 2020-02-05. The CoC approved the extension with a 100% vote share. The application was considered under Section 12 of the Insolvency and Bankruptcy Code (IBC), 2016. The court found the application to be in consonance with Section 12 of the IBC, 2016.
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The case pertains to IA No. 776/MB/2020 in C.P. (IB) No. 2985/MB/2018 before the Mumbai Bench of the National Company Law Tribunal. The applicant sought an extension of the Corporate Insolvency Resolution Process (CIRP) period by 90 days.
The applicant filed IA 776 of 2020 seeking a 90-day extension of the CIRP period. The basis for the extension was a resolution passed by the Committee of Creditors (CoC) in its 3rd meeting held on 2020-02-05. The CoC approved the extension with a 100% vote share. The application was considered under Section 12 of the Insolvency and Bankruptcy Code (IBC), 2016. The court found the application to be in consonance with Section 12 of the IBC, 2016.
The CoC held its 3rd…
The National Company Law Tribunal (NCLT)…
Sign in to view related legal provisions.