The Resolution Professional, Mr. Ramanjaneyulu Gandluri, filed an application (IA (IBC)/1469/2024) seeking a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) period. The CIRP period was scheduled to expire on 2024-07-16. The reason for seeking the extension was that 13 prospective resolution applicants were engaged in negotiations to submit a resolution plan. The Resolution Professional argued that the time remaining was insufficient for proper consideration. The NCLT, Hyderabad Bench, considered the submissions and decided to extend the CIRP period by 90 days, effective from 2024-07-17.

The Resolution Professional, Mr. Ramanjaneyulu Gandluri, filed an application (IA (IBC)/1469/2024) seeking a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) period. The CIRP period was scheduled to expire on 2024-07-16. The reason for seeking the extension was that 13 prospective resolution applicants were engaged in negotiations to submit a resolution plan. The Resolution Professional argued that the time remaining was insufficient for proper consideration. The NCLT, Hyderabad Bench, considered the submissions and decided to extend the CIRP period by 90 days, effective from 2024-07-17.