https://www.taxtmi.com/caselaws?id=290572 The Court granted the Resolution Professional's application to extend the Corporate Insolvency Resolution Process (CIRP) period by 90 days beyond the initial 180 days. The Committee of Creditors approved the extension with unanimous voting. The decision was based on the necessity to complete the resolution process efficiently, as emphasized in the Supreme Court's judgment in a relevant case. The extension aimed to maximize asset value, promote entrepreneurship, and prioritize reorganization over liquidation, ensuring protection of the corporate debtor's interests and timely resolution for all stakeholders. en-us Tue, 07 Jan 2020 00:00:00 +0530 Tue, 06 Oct 2020 10:46:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290572 The Court granted the Resolution Professional's application to extend the Corporate Insolvency Resolution Process (CIRP) period by 90 days beyond the initial 180 days. The Committee of Creditors approved the extension with unanimous voting. The decision was based on the necessity to complete the resolution process efficiently, as emphasized in the Supreme Court's judgment in a relevant case. The extension aimed to maximize asset value, promote entrepreneurship, and prioritize reorganization over liquidation, ensuring protection of the corporate debtor's interests and timely resolution for all stakeholders. Case-Laws Insolvency and Bankruptcy Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290572