https://www.taxtmi.com/caselaws?id=405726 The Tribunal allowed the extension of the Corporate Insolvency Resolution Process (CIRP) period by 90 days from the date of the order, taking into account delays caused by the late appointment of the Resolution Professional and the nationwide lockdown. The lockdown period was excluded from the CIRP timeline following precedents from higher courts. The suspended promoter was deemed eligible to submit a Resolution Plan under the revised MSME definition, with an extension of 45 days granted for plan submission, to be considered by the Committee of Creditors (CoC) within the ongoing CIRP period. en-us Tue, 23 Mar 2021 00:00:00 +0530 Fri, 26 Mar 2021 08:49:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405726 The Tribunal allowed the extension of the Corporate Insolvency Resolution Process (CIRP) period by 90 days from the date of the order, taking into account delays caused by the late appointment of the Resolution Professional and the nationwide lockdown. The lockdown period was excluded from the CIRP timeline following precedents from higher courts. The suspended promoter was deemed eligible to submit a Resolution Plan under the revised MSME definition, with an extension of 45 days granted for plan submission, to be considered by the Committee of Creditors (CoC) within the ongoing CIRP period. Case-Laws Companies Law Tue, 23 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405726