Swastik Ceracon Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP). The initial 180-day CIRP period expired on 2019-07-13. The Committee of Creditors (CoC) held its 3rd meeting on 2019-06-04 and passed a resolution with 99% majority to extend the CIRP period by another 90 days. The reason for seeking the extension was the possibility of exploring a viable resolution plan. The application for extension (IA 457 of 2019) was filed on 2019-07-03, before the expiry of the initial CIRP period. The applicant, represented by Mr. Atul Sharma, sought the extension before the NCLT Ahmedabad Bench. The Adjudicating Authority considered the application and the submissions made by the applicant's counsel.

Swastik Ceracon Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP). The initial 180-day CIRP period expired on 2019-07-13. The Committee of Creditors (CoC) held its 3rd meeting on 2019-06-04 and passed a resolution with 99% majority to extend the CIRP period by another 90 days. The reason for seeking the extension was the possibility of exploring a viable resolution plan. The application for extension (IA 457 of 2019) was filed on 2019-07-03, before the expiry of the initial CIRP period. The applicant, represented by Mr. Atul Sharma, sought the extension before the NCLT Ahmedabad Bench. The Adjudicating Authority considered the application and the submissions made by the applicant's counsel.