The case involves an application filed by the respondent under Section 12(2) of the Insolvency and Bankruptcy Code seeking an extension of time. The 180-day period had expired on August 13, 2019, and the instant application was filed on August 6, 2019. The Committee of Creditors (CoC) had resolved on August 1, 2019, to extend the period by 90 days beyond the initial 180 days, as reflected in a board resolution with 100% voting share in favor of the extension.
The respondent filed an application under Section 12(2) of the Insolvency and Bankruptcy Code seeking an extension of time. The initial 180-day period was set to expire on August 13, 2019, and the application was filed on August 6, 2019. A Board Resolution was passed on August 1, 2019, by the Committee of Creditors, resolving to extend the period by an additional 90 days beyond the initial 180 days. This resolution was supported by 100% of the voting share. The Adjudicating Authority considered the pleadings and documents presented by the Resolution Professional.
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Committee of Creditors…
Respondent filed application u/s 12(2) of…
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The case involves an application filed by the respondent under Section 12(2) of the Insolvency and Bankruptcy Code seeking an extension of time. The 180-day period had expired on August 13, 2019, and the instant application was filed on August 6, 2019. The Committee of Creditors (CoC) had resolved on August 1, 2019, to extend the period by 90 days beyond the initial 180 days, as reflected in a board resolution with 100% voting share in favor of the extension.
The respondent filed an application under Section 12(2) of the Insolvency and Bankruptcy Code seeking an extension of time. The initial 180-day period was set to expire on August 13, 2019, and the application was filed on August 6, 2019. A Board Resolution was passed on August 1, 2019, by the Committee of Creditors, resolving to extend the period by an additional 90 days beyond the initial 180 days. This resolution was supported by 100% of the voting share. The Adjudicating Authority considered the pleadings and documents presented by the Resolution Professional.
Committee of Creditors…
Respondent filed application u/s 12(2) of…
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