https://www.taxtmi.com/caselaws?id=400368 The Tribunal granted a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) under Section 12(2) of IBC 2016 to allow for completion of due diligence on a Resolution Plan and the possibility of inviting fresh Expressions of Interest. The decision was based on practical difficulties faced by the Resolution Professional in complying with timelines, recognizing the need for a thorough evaluation of the Resolution Plan. The extension aimed to facilitate a fair process for Resolution Applicants and protect the interests of the Corporate Debtor in the resolution proceedings. en-us Mon, 02 Nov 2020 00:00:00 +0530 Thu, 05 Nov 2020 12:29:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400368 The Tribunal granted a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) under Section 12(2) of IBC 2016 to allow for completion of due diligence on a Resolution Plan and the possibility of inviting fresh Expressions of Interest. The decision was based on practical difficulties faced by the Resolution Professional in complying with timelines, recognizing the need for a thorough evaluation of the Resolution Plan. The extension aimed to facilitate a fair process for Resolution Applicants and protect the interests of the Corporate Debtor in the resolution proceedings. Case-Laws Insolvency and Bankruptcy Mon, 02 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400368