The application IA 3738/2023 was filed by the Interim Resolution Professional (IRP) seeking exclusion of the period from 2022-09-27 until the date of the order on the application from the computation of the statutory period of the Corporate Insolvency Resolution Process (CIRP) under Section 12(1) of the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor, Ahilya Trading Private Limited, was admitted into CIRP vide an order dated 2022-09-27. The IRP was appointed, but the order was communicated to the applicant only on 2023-08-10, leading to a gap of 11 months. The applicant was unable to give effect to the order as per the provisions of the code read with CIRP Regulations.
The Corporate Debtor, Ahilya Trading Private Limited, was admitted into CIRP on 2022-09-27. The order appointing the Interim Resolution Professional (IRP) was communicated to the applicant, Avanti Resources Private Limited, only on 2023-08-10, creating an 11-month gap. The Registry of the Tribunal did not intimate the IRP's appointment. The IRP filed an application (IA 3738/2023) seeking exclusion of the period from 2022-09-27 to the date of the order on the application from the computation of the statutory CIRP period. The Resolution Professional appointed was Mr. Milind Kasodakar.
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Corporate Debtor,…
Order passed by the…
The application IA 3738/2023 was filed by the Interim Resolution Professional (IRP) seeking exclusion of the period from 2022-09-27 until the date of the order on the application from the computation of the statutory period of the Corporate Insolvency Resolution Process (CIRP) under Section 12(1) of the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor, Ahilya Trading Private Limited, was admitted into CIRP vide an order dated 2022-09-27. The IRP was appointed, but the order was communicated to the applicant only on 2023-08-10, leading to a gap of 11 months. The applicant was unable to give effect to the order as per the provisions of the code read with CIRP Regulations.
The Corporate Debtor, Ahilya Trading Private Limited, was admitted into CIRP on 2022-09-27. The order appointing the Interim Resolution Professional (IRP) was communicated to the applicant, Avanti Resources Private Limited, only on 2023-08-10, creating an 11-month gap. The Registry of the Tribunal did not intimate the IRP's appointment. The IRP filed an application (IA 3738/2023) seeking exclusion of the period from 2022-09-27 to the date of the order on the application from the computation of the statutory CIRP period. The Resolution Professional appointed was Mr. Milind Kasodakar.
Corporate Debtor,…
Order passed by the…