The Resolution Professional filed an application seeking exclusion of 90 days from the CIRP period due to a pandemic lockdown between 2021-04-19 and 2021-05-03. A second prayer sought a 60-day extension after the initial 270-day period expired on 2021-04-27. The application was filed in April 2021 but not actively pursued. The Corporate Debtor has now settled with the Operational Creditors, who are also CoC members. The delay was attributed to the settlement process and the Operational Creditor's need to obtain documents from the government related to the Settlement Agreement and payment.
An application was filed by the Resolution Professional seeking exclusion of 90 days from the CIRP period due to a pandemic-related lockdown between April 19, 2021, and May 3, 2021. A second prayer sought a 60-day extension of the CIRP beyond the initial 270 days, which expired on April 27, 2021. The application was filed in April 2021 but was not actively pursued. The Corporate Debtor has settled the matter with the Operational Creditors, who are also members of the Committee of Creditors (CoC). The reason for not pursuing the application was the ongoing settlement process and the Operational Creditor's need to obtain documents from the government related to the Settlement Agreement and payment. The payment to both claimants, who are CoC members, has been made, and
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The Resolution Professional filed an application seeking exclusion of 90 days from the CIRP period due to a pandemic lockdown between 2021-04-19 and 2021-05-03. A second prayer sought a 60-day extension after the initial 270-day period expired on 2021-04-27. The application was filed in April 2021 but not actively pursued. The Corporate Debtor has now settled with the Operational Creditors, who are also CoC members. The delay was attributed to the settlement process and the Operational Creditor's need to obtain documents from the government related to the Settlement Agreement and payment.
An application was filed by the Resolution Professional seeking exclusion of 90 days from the CIRP period due to a pandemic-related lockdown between April 19, 2021, and May 3, 2021. A second prayer sought a 60-day extension of the CIRP beyond the initial 270 days, which expired on April 27, 2021. The application was filed in April 2021 but was not actively pursued. The Corporate Debtor has settled the matter with the Operational Creditors, who are also members of the Committee of Creditors (CoC). The reason for not pursuing the application was the ongoing settlement process and the Operational Creditor's need to obtain documents from the government related to the Settlement Agreement and payment. The payment to both claimants, who are CoC members, has been made, and
…Start of the 90-day…
End of the 90-day…