https://www.taxtmi.com/caselaws?id=404819 The Tribunal granted a 90-day extension for the Corporate Insolvency Resolution Process (CIRP) due to lockdown-related delays, directing completion by 16-1-2021. The Committee of Creditors (CoC) unanimously approved the extension to facilitate due diligence on the Prospective Resolution Applicant. Permission was also given to invite Fresh Expression of Interest if the current plan is rejected, aiming to attract more genuine bidders amidst the COVID-19 impact. The Tribunal emphasized compliance with IBBI Rules and Regulations, ultimately disposing of the application. en-us Mon, 02 Nov 2020 00:00:00 +0530 Fri, 05 Mar 2021 09:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404819 The Tribunal granted a 90-day extension for the Corporate Insolvency Resolution Process (CIRP) due to lockdown-related delays, directing completion by 16-1-2021. The Committee of Creditors (CoC) unanimously approved the extension to facilitate due diligence on the Prospective Resolution Applicant. Permission was also given to invite Fresh Expression of Interest if the current plan is rejected, aiming to attract more genuine bidders amidst the COVID-19 impact. The Tribunal emphasized compliance with IBBI Rules and Regulations, ultimately disposing of the application. Case-Laws Insolvency and Bankruptcy Mon, 02 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404819