https://www.taxtmi.com/caselaws?id=403598 The Appellate Tribunal allowed the appeal filed by the Committee of Creditors (COC) challenging the rejection of the Resolution Professional's application seeking an extension of time beyond 330 days under the Insolvency and Bankruptcy Code, 2016. Emphasizing exceptional circumstances and the need to prevent liquidation, the Tribunal granted a two-week extension to facilitate the approval of a viable Resolution Plan by the COC. This decision underscores the importance of safeguarding stakeholders' interests and promoting successful resolution outcomes within the insolvency framework. en-us Tue, 02 Feb 2021 00:00:00 +0530 Wed, 03 Feb 2021 07:30:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403598 The Appellate Tribunal allowed the appeal filed by the Committee of Creditors (COC) challenging the rejection of the Resolution Professional's application seeking an extension of time beyond 330 days under the Insolvency and Bankruptcy Code, 2016. Emphasizing exceptional circumstances and the need to prevent liquidation, the Tribunal granted a two-week extension to facilitate the approval of a viable Resolution Plan by the COC. This decision underscores the importance of safeguarding stakeholders' interests and promoting successful resolution outcomes within the insolvency framework. Case-Laws Insolvency and Bankruptcy Tue, 02 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403598