The application was filed by Mr. Anil Rajkotia, the Resolution Professional of M/s Spark Green Energy (Satara) Limited, seeking an exclusion of the period from 25.03.2020 to 30.09.2020 (190 days) due to the nationwide lockdown. The purpose was to correctly calculate the 180-day period and the subsequent 90-day extension for completing the Corporate Insolvency Resolution Process (CIRP). The applicant also sought exemption for the period of pendency of the application until its disposal, requesting that the extended CIRP period be counted from the date of receipt of the order copy.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Spark Green Energy (Satara) Limited. The CIRP commenced on 28.11.2019. The initial 180-day period for CIRP was set to expire on 28.05.2020, which fell during the nationwide COVID-19 lockdown. The Resolution Professional (RP), Mr. Anil Rajkotia, filed an application seeking exclusion of the lockdown period from 25.03.2020 to 30.09.2020 (190 days) for the purpose of calculating the CIRP timeline. The Committee of Creditors (CoC) had approved an extension of the CIRP period by 90 days. The RP had received 7 expressions of interest for the Corporate Debtor, and one resolution plan had been submitted by M/s Hangji Global Ltd. The applicant also referred to a decision of Hon'ble NCLAT whereby the
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Corporate Insolvency Resolution Process (CIRP)…
CIRP commenced…
The application was filed by Mr. Anil Rajkotia, the Resolution Professional of M/s Spark Green Energy (Satara) Limited, seeking an exclusion of the period from 25.03.2020 to 30.09.2020 (190 days) due to the nationwide lockdown. The purpose was to correctly calculate the 180-day period and the subsequent 90-day extension for completing the Corporate Insolvency Resolution Process (CIRP). The applicant also sought exemption for the period of pendency of the application until its disposal, requesting that the extended CIRP period be counted from the date of receipt of the order copy.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Spark Green Energy (Satara) Limited. The CIRP commenced on 28.11.2019. The initial 180-day period for CIRP was set to expire on 28.05.2020, which fell during the nationwide COVID-19 lockdown. The Resolution Professional (RP), Mr. Anil Rajkotia, filed an application seeking exclusion of the lockdown period from 25.03.2020 to 30.09.2020 (190 days) for the purpose of calculating the CIRP timeline. The Committee of Creditors (CoC) had approved an extension of the CIRP period by 90 days. The RP had received 7 expressions of interest for the Corporate Debtor, and one resolution plan had been submitted by M/s Hangji Global Ltd. The applicant also referred to a decision of Hon'ble NCLAT whereby the
…Corporate Insolvency Resolution Process (CIRP)…
CIRP commenced…