ICICI Bank Limited filed an application as the Petitioner/Applicant against M/s. Tirupati Inks Ltd & Ors as the Respondent. The application was filed under Section 7 of the Insolvency & Bankruptcy Code (IBC) CIRP. The liquidator filed an application (IA-4697/2022) seeking an extension of two months to complete the liquidation process of the Corporate Debtor, effective from 27.09.2022. The liquidator argued that the extension was necessary to take steps under Regulation 38(1) of the Liquidation Process Regulations, 2016, which allows the liquidator, with the permission of the Adjudicating Authority, to distribute unsold assets among the stakeholders. The liquidator also intended to proceed with the dissolution of the Corporate Debtor under Section 54 of the

ICICI Bank Limited filed an application as the Petitioner/Applicant against M/s. Tirupati Inks Ltd & Ors as the Respondent. The application was filed under Section 7 of the Insolvency & Bankruptcy Code (IBC) CIRP. The liquidator filed an application (IA-4697/2022) seeking an extension of two months to complete the liquidation process of the Corporate Debtor, effective from 27.09.2022. The liquidator argued that the extension was necessary to take steps under Regulation 38(1) of the Liquidation Process Regulations, 2016, which allows the liquidator, with the permission of the Adjudicating Authority, to distribute unsold assets among the stakeholders. The liquidator also intended to proceed with the dissolution of the Corporate Debtor under Section 54 of the