The case pertains to an application (I.A. 1475/2020) filed by the Resolution Professional seeking an extension of 90 days for the Corporate Insolvency Resolution Process (CIRP) period, originally commencing from March 15, 2020. The matter was heard by the Mumbai Bench of the National Company Law Tribunal (NCLT).
The Resolution Professional filed an application (I.A. 1475/2020) seeking a 90-day extension of the CIRP period, which initially commenced on March 15, 2020. The Committee of Creditors (COC) passed a resolution with 100% voting in favor of the extension. The applicant's counsel was present during the hearing. The court considered the COC's resolution and Section 12(2) of the Insolvency and Bankruptcy Code (IBC) in its decision-making process. The extension was sought to facilitate the resolution process, and the unanimous support from the COC indicates their belief in the necessity of the extension for a successful resolution.
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The Corporate…
Hearing of the Mumbai Bench of the…
The case pertains to an application (I.A. 1475/2020) filed by the Resolution Professional seeking an extension of 90 days for the Corporate Insolvency Resolution Process (CIRP) period, originally commencing from March 15, 2020. The matter was heard by the Mumbai Bench of the National Company Law Tribunal (NCLT).
The Resolution Professional filed an application (I.A. 1475/2020) seeking a 90-day extension of the CIRP period, which initially commenced on March 15, 2020. The Committee of Creditors (COC) passed a resolution with 100% voting in favor of the extension. The applicant's counsel was present during the hearing. The court considered the COC's resolution and Section 12(2) of the Insolvency and Bankruptcy Code (IBC) in its decision-making process. The extension was sought to facilitate the resolution process, and the unanimous support from the COC indicates their belief in the necessity of the extension for a successful resolution.
The Corporate…
Hearing of the Mumbai Bench of the…