https://www.taxtmi.com/caselaws?id=403025 The Insolvency and Bankruptcy Code's resolution-first approach was applied to hold that a pending resolution plan should be examined before liquidation where the corporate insolvency resolution process had been delayed by procedural impediments and external restraints. The period lost in appointing authorised representatives for homebuyers and plot-holders, and the period affected by stay and lockdown, was directed to be excluded for computing the CIRP timeline. The resolution professional and committee of creditors were directed to consider the pending resolution plan and the grievances of the concerned creditors and homebuyers, and the CIRP period was extended accordingly. en-us Tue, 12 Jan 2021 00:00:00 +0530 Mon, 18 Jan 2021 13:12:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403025 The Insolvency and Bankruptcy Code's resolution-first approach was applied to hold that a pending resolution plan should be examined before liquidation where the corporate insolvency resolution process had been delayed by procedural impediments and external restraints. The period lost in appointing authorised representatives for homebuyers and plot-holders, and the period affected by stay and lockdown, was directed to be excluded for computing the CIRP timeline. The resolution professional and committee of creditors were directed to consider the pending resolution plan and the grievances of the concerned creditors and homebuyers, and the CIRP period was extended accordingly. Case-Laws Insolvency and Bankruptcy Tue, 12 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403025