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        Case ID :
        Insolvency and Bankruptcy

        Seeking extension of CIRP period - The members of CoC and the...

        CoC and Resolution Professional blamed for CIRP delays; time exclusion granted from March 1, 2022. Next steps urged.

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                          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.
                                Seeking extension of CIRP period - The members of CoC and the Resolution Professional are responsible for the loss of time prescribed under the Code, which is valuable and limited for completion of CIRP - In order to facilitate such resolution, Suo moto exclusion is granted of the time consumed in pursuing this application, i.e., from 1st March 2022 till the date of this Order. In default, the CoC shall resort to the next step as provided under IBC, without consuming any further time on pursuing the existing conditional plans, since any further delay in taking necessary steps will result in further deterioration of the already eroded asset value. - Tri
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