https://www.taxtmi.com/caselaws?id=400374 The Tribunal granted an extension of 30 days beyond the initial 270 days from the Corporate Insolvency Resolution Process (CIRP) under Section 60(5) of the Insolvency and Bankruptcy Code. This decision aimed to facilitate the potential acceptance of a Resolution Plan, aligning with the Code's objective of reorganizing and resolving insolvency in a time-bound manner to maximize asset value and protect stakeholder interests. The extension was within the 330-day limit recognized by the Supreme Court, emphasizing the importance of timely resolution while ensuring the success of the Resolution Plan applicant. en-us Tue, 18 Aug 2020 00:00:00 +0530 Thu, 05 Nov 2020 12:45:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400374 The Tribunal granted an extension of 30 days beyond the initial 270 days from the Corporate Insolvency Resolution Process (CIRP) under Section 60(5) of the Insolvency and Bankruptcy Code. This decision aimed to facilitate the potential acceptance of a Resolution Plan, aligning with the Code's objective of reorganizing and resolving insolvency in a time-bound manner to maximize asset value and protect stakeholder interests. The extension was within the 330-day limit recognized by the Supreme Court, emphasizing the importance of timely resolution while ensuring the success of the Resolution Plan applicant. Case-Laws Insolvency and Bankruptcy Tue, 18 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400374