The case involves an application (IA/363/CHE/2022) filed in IBA/1459/2019 concerning Appu Hotels Limited under the Insolvency and Bankruptcy Code, 2016. The Resolution Professional (RP) sought exclusion of certain periods from the Corporate Insolvency Resolution Process (CIRP) timeline. The admission order under Section 7 of the IBC was passed on 2020-05-05. The RP was appointed on 2020-11-02. An earlier order excluding 376 days from the CIRP was challenged before NCLAT, which dismissed the appeal on 2021-05-05. The Tribunal approved the Resolution Plan on 2021-07-15. NCLAT later set aside the resolution plan and directed restoration of CIRP. The RP then filed civil appeals before the Supreme Court, which were reserved for judgment.
The Resolution Professional (RP) for Appu Hotels Limited filed an application (IA/363/CHE/2022) seeking exclusion of 376 days from the Corporate Insolvency Resolution Process (CIRP) timeline. This exclusion was sought for two periods: 162 days from 2021-02-04 to 2021-07-15, spent on IA 150 of 2021 seeking approval of the Resolution Plan, and 214 days from 2021-07-19 to 2022-02-17, lost in adjudication appeals before NCLAT. The initial admission order under Section 7 of the Insolvency & Bankruptcy Code was passed on 2020-05-05. An earlier order excluding 376 days was challenged but the appeal was dismissed on 2021-05-05. The Resolution Plan was initially approved on 2021-07-15, but NCLAT set it aside on 2022-02-17, directing restoration of the CIRP. The RP filed
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The case involves an application (IA/363/CHE/2022) filed in IBA/1459/2019 concerning Appu Hotels Limited under the Insolvency and Bankruptcy Code, 2016. The Resolution Professional (RP) sought exclusion of certain periods from the Corporate Insolvency Resolution Process (CIRP) timeline. The admission order under Section 7 of the IBC was passed on 2020-05-05. The RP was appointed on 2020-11-02. An earlier order excluding 376 days from the CIRP was challenged before NCLAT, which dismissed the appeal on 2021-05-05. The Tribunal approved the Resolution Plan on 2021-07-15. NCLAT later set aside the resolution plan and directed restoration of CIRP. The RP then filed civil appeals before the Supreme Court, which were reserved for judgment.
The Resolution Professional (RP) for Appu Hotels Limited filed an application (IA/363/CHE/2022) seeking exclusion of 376 days from the Corporate Insolvency Resolution Process (CIRP) timeline. This exclusion was sought for two periods: 162 days from 2021-02-04 to 2021-07-15, spent on IA 150 of 2021 seeking approval of the Resolution Plan, and 214 days from 2021-07-19 to 2022-02-17, lost in adjudication appeals before NCLAT. The initial admission order under Section 7 of the Insolvency & Bankruptcy Code was passed on 2020-05-05. An earlier order excluding 376 days was challenged but the appeal was dismissed on 2021-05-05. The Resolution Plan was initially approved on 2021-07-15, but NCLAT set it aside on 2022-02-17, directing restoration of the CIRP. The RP filed
…Admission order under…
The Applicant replaced…
Sign in to view related legal provisions.