The Resolution Professional filed an application seeking an extension of time beyond 06.04.2019 for a further period of 90 days, as provided by Section 12(2) of the Insolvency and Bankruptcy Code, 2016. The reason for seeking the extension was that the extended date for receipt of 'expression of interest' was 06.04.2019, when the maximum period of 180 days was to expire. The Committee of Creditors (CoC) passed a resolution with 90.04% votes to seek the extension of time, authorizing the Resolution Professional to do so.
The Resolution Professional filed an application seeking an extension of time beyond 06.04.2019 for a further 90 days, citing Section 12(2) of the Insolvency and Bankruptcy Code, 2016. The reason was that the deadline for receiving 'expression of interest' was 06.04.2019, marking the end of the initial 180-day period. The CoC supported the extension with a 90.04% vote, authorizing the Resolution Professional to seek the extension. The court found merit in the application and granted the extension.
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The 4th meeting of the Committee of Creditors…
The order was delivered, granting an…
The Resolution Professional filed an application seeking an extension of time beyond 06.04.2019 for a further period of 90 days, as provided by Section 12(2) of the Insolvency and Bankruptcy Code, 2016. The reason for seeking the extension was that the extended date for receipt of 'expression of interest' was 06.04.2019, when the maximum period of 180 days was to expire. The Committee of Creditors (CoC) passed a resolution with 90.04% votes to seek the extension of time, authorizing the Resolution Professional to do so.
The Resolution Professional filed an application seeking an extension of time beyond 06.04.2019 for a further 90 days, citing Section 12(2) of the Insolvency and Bankruptcy Code, 2016. The reason was that the deadline for receiving 'expression of interest' was 06.04.2019, marking the end of the initial 180-day period. The CoC supported the extension with a 90.04% vote, authorizing the Resolution Professional to seek the extension. The court found merit in the application and granted the extension.
The 4th meeting of the Committee of Creditors…
The order was delivered, granting an…