https://www.taxtmi.com/caselaws?id=272402 The Appellate Tribunal allowed the appeal filed by the Corporate Debtor through the Resolution Professional, setting aside the Adjudicating Authority's order and extending the Corporate Insolvency Resolution Process (CIRP) for another 90 days from the date of the judgment. The Tribunal emphasized that the application for extension of time beyond 180 days can be filed within the initial 180 days if instructed by a resolution passed by the committee of creditors with a seventy-five percent majority vote. The decision highlighted the importance of adhering to the timelines set by the Insolvency and Bankruptcy Code and ensuring a fair resolution process. en-us Tue, 20 Feb 2018 00:00:00 +0530 Wed, 02 May 2018 06:19:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272402 The Appellate Tribunal allowed the appeal filed by the Corporate Debtor through the Resolution Professional, setting aside the Adjudicating Authority's order and extending the Corporate Insolvency Resolution Process (CIRP) for another 90 days from the date of the judgment. The Tribunal emphasized that the application for extension of time beyond 180 days can be filed within the initial 180 days if instructed by a resolution passed by the committee of creditors with a seventy-five percent majority vote. The decision highlighted the importance of adhering to the timelines set by the Insolvency and Bankruptcy Code and ensuring a fair resolution process. Case-Laws Companies Law Tue, 20 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272402