The Resolution Professional filed an application seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period for another 90 days, in addition to the 330 days that had already expired on February 29, 2020. The application was based on a resolution passed by the Committee of Creditors (CoC) on February 11, 2020, with a 94.03% voting share.
The Resolution Professional filed an application seeking a 90-day extension of the CIRP period, which had already lasted 330 days and expired on February 29, 2020. The request was supported by a CoC resolution passed on February 11, 2020, with a 94.03% voting share. Two resolution plans were under consideration by the CoC. The CoC believed that granting the extension would increase the likelihood of approving a resolution plan. The court considered the CoC's view and the potential for resolution plan approval.
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The Committee of Creditors passed a resolution…
The initial 3…
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The Resolution Professional filed an application seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period for another 90 days, in addition to the 330 days that had already expired on February 29, 2020. The application was based on a resolution passed by the Committee of Creditors (CoC) on February 11, 2020, with a 94.03% voting share.
The Resolution Professional filed an application seeking a 90-day extension of the CIRP period, which had already lasted 330 days and expired on February 29, 2020. The request was supported by a CoC resolution passed on February 11, 2020, with a 94.03% voting share. Two resolution plans were under consideration by the CoC. The CoC believed that granting the extension would increase the likelihood of approving a resolution plan. The court considered the CoC's view and the potential for resolution plan approval.
The Committee of Creditors passed a resolution…
The initial 3…
Sign in to view related legal provisions.