Extension of insolvency resolution period: committee may direct the resolution professional to apply under section 12 for extension. Regulation 40 empowers the committee to instruct the resolution professional to apply to the Adjudicating Authority under section 12 for extension of the insolvency resolution period; the resolution professional must make that application and continue to discharge all duties under the corporate insolvency resolution process until the application is decided.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Extension of insolvency resolution period: committee may direct the resolution professional to apply under section 12 for extension.
Regulation 40 empowers the committee to instruct the resolution professional to apply to the Adjudicating Authority under section 12 for extension of the insolvency resolution period; the resolution professional must make that application and continue to discharge all duties under the corporate insolvency resolution process until the application is decided.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
