https://www.taxtmi.com/caselaws?id=405735 The Tribunal granted the Appellant's request to extend the Corporate Insolvency Resolution Process (CIRP) period for the Corporate Debtor from 270 to 330 days, allowing for judicial discretion in exceptional cases beyond the statutory limit. Emphasizing the importance of timely resolution and judicial discretion, the Tribunal referenced the Supreme Court's decision in a similar case, highlighting the need for exceptional circumstances to extend the CIRP period. The appeal against the Adjudicating Authority's order was deemed premature, with the Appellant permitted to withdraw it, while directing a fair consideration of the pending extension application. en-us Wed, 24 Mar 2021 00:00:00 +0530 Tue, 16 Nov 2021 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405735 The Tribunal granted the Appellant's request to extend the Corporate Insolvency Resolution Process (CIRP) period for the Corporate Debtor from 270 to 330 days, allowing for judicial discretion in exceptional cases beyond the statutory limit. Emphasizing the importance of timely resolution and judicial discretion, the Tribunal referenced the Supreme Court's decision in a similar case, highlighting the need for exceptional circumstances to extend the CIRP period. The appeal against the Adjudicating Authority's order was deemed premature, with the Appellant permitted to withdraw it, while directing a fair consideration of the pending extension application. Case-Laws Insolvency and Bankruptcy Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405735