https://www.taxtmi.com/caselaws?id=290786 The Appellate Tribunal allowed the appeal by Shareholders/Directors, setting aside the Adjudicating Authority's order and extending the Corporate Insolvency Resolution Process for another 90 days. The Tribunal clarified that the extended period should be counted from the date of the Adjudicating Authority's order, excluding the period between the 181st day and the date of the order for all purposes. The decision aimed to ensure sufficient time for resolution processes and prevent liquidation, emphasizing the importance of timely completion within the extended period as per the Insolvency and Bankruptcy Code. en-us Wed, 28 Feb 2018 00:00:00 +0530 Fri, 16 Oct 2020 10:51:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290786 The Appellate Tribunal allowed the appeal by Shareholders/Directors, setting aside the Adjudicating Authority's order and extending the Corporate Insolvency Resolution Process for another 90 days. The Tribunal clarified that the extended period should be counted from the date of the Adjudicating Authority's order, excluding the period between the 181st day and the date of the order for all purposes. The decision aimed to ensure sufficient time for resolution processes and prevent liquidation, emphasizing the importance of timely completion within the extended period as per the Insolvency and Bankruptcy Code. Case-Laws Insolvency and Bankruptcy Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290786