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        Case ID :
        Insolvency and Bankruptcy

        Extension of the CIRP period of the Corporate Debtor by 60 days...

        CIRP Period Extended by 60 Days; Tribunal Upholds CoC's Decision-Making Authority Under Insolvency and Bankruptcy Code.

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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.
                                Extension of the CIRP period of the Corporate Debtor by 60 days - The commercial wisdom of the CoC is paramount and non-justiciable, except on limited grounds specified under the IBC. The tribunal underscored that the Adjudicating Authority cannot substitute its views for that of the CoC's commercial wisdom and, therefore, cannot direct the issuance of fresh Form-G when the CoC decided against it after due deliberation​​​​. - That part of the impugned order is set aside wherein the Adjudicating Authority has directed the RP to invite fresh expression of interest through wider publication of Form-G
                                Note: It is a system-generated summary and is for quick reference only.
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