https://www.taxtmi.com/caselaws?id=400915 The National Company Law Tribunal, Hyderabad Bench, approved the exclusion of 97 days from the Corporate Insolvency Resolution Process (CIRP) calculation due to the COVID-19 lockdown, following the Supreme Court's guidance on flexibility in exceptional cases. However, the Tribunal denied the extension of an additional 120 days for CIRP completion, considering actions taken by the Resolution Professional and the Committee of Creditors. The decision aimed to balance stakeholder interests and prevent liquidation, aligning with legal provisions and economic circumstances amidst the pandemic. en-us Thu, 03 Sep 2020 00:00:00 +0530 Tue, 16 Nov 2021 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400915 The National Company Law Tribunal, Hyderabad Bench, approved the exclusion of 97 days from the Corporate Insolvency Resolution Process (CIRP) calculation due to the COVID-19 lockdown, following the Supreme Court's guidance on flexibility in exceptional cases. However, the Tribunal denied the extension of an additional 120 days for CIRP completion, considering actions taken by the Resolution Professional and the Committee of Creditors. The decision aimed to balance stakeholder interests and prevent liquidation, aligning with legal provisions and economic circumstances amidst the pandemic. Case-Laws Insolvency and Bankruptcy Thu, 03 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400915