https://www.taxtmi.com/caselaws?id=388067 The Supreme Court extended the Corporate Insolvency Resolution Process (CIRP) timeline by 90 days due to exceptional circumstances, allowing for the submission of revised resolution plans from final bidders Suraksha Realty and NBCC. The Court emphasized the need to avoid liquidation and find a viable solution for stakeholders, particularly home buyers. This decision, made under Article 142 of the Constitution, aimed to ensure substantial justice and complete the CIRP process within the extended timeline, considering recent legislative changes to the Insolvency and Bankruptcy Code. en-us Wed, 06 Nov 2019 00:00:00 +0530 Thu, 07 Nov 2019 06:12:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388067 The Supreme Court extended the Corporate Insolvency Resolution Process (CIRP) timeline by 90 days due to exceptional circumstances, allowing for the submission of revised resolution plans from final bidders Suraksha Realty and NBCC. The Court emphasized the need to avoid liquidation and find a viable solution for stakeholders, particularly home buyers. This decision, made under Article 142 of the Constitution, aimed to ensure substantial justice and complete the CIRP process within the extended timeline, considering recent legislative changes to the Insolvency and Bankruptcy Code. Case-Laws Insolvency and Bankruptcy Wed, 06 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388067