Allahabad Bank initiated a Corporate Insolvency Resolution Process (CIRP) against Suman Agritech Limited under CP(IB) 1003/MB-1/2019. The initial CIRP period of 180 days expired on 2020-02-23. Prior to the expiry, on 2020-02-04, the Committee of Creditors (CoC) approved a resolution for the extension of the CIRP period and authorized the Resolution Professional (RP) to file an application before the NCLT for the extension. The application (IA 788/MB/2020) was filed on 2020-02-17. A resolution plan was submitted and was under consideration. The NCLT considered the application for extension of the CIRP period.

Allahabad Bank initiated a Corporate Insolvency Resolution Process (CIRP) against Suman Agritech Limited under CP(IB) 1003/MB-1/2019. The initial CIRP period of 180 days expired on 2020-02-23. Prior to the expiry, on 2020-02-04, the Committee of Creditors (CoC) approved a resolution for the extension of the CIRP period and authorized the Resolution Professional (RP) to file an application before the NCLT for the extension. The application (IA 788/MB/2020) was filed on 2020-02-17. A resolution plan was submitted and was under consideration. The NCLT considered the application for extension of the CIRP period.