https://www.taxtmi.com/caselaws?id=294914 The Tribunal granted the Resolution Professional's application to exclude the period between 05.05.2020 and 31.10.2020, encompassing a 3-week court stay, from the Corporate Insolvency Resolution Process timeline due to the Covid-19 lockdown. The Committee of Creditors unanimously resolved to exclude this period, supported by Regulation 40C of the IBBI Regulations. The Tribunal recognized the lockdown's impact on CIRP activities, allowing the exclusion of 179 days. The decision aimed to ensure compliance with the Insolvency and Bankruptcy Code, facilitating the timely completion of the Corporate Debtor's resolution process. en-us Wed, 23 Dec 2020 00:00:00 +0530 Sat, 20 Nov 2021 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294914 The Tribunal granted the Resolution Professional's application to exclude the period between 05.05.2020 and 31.10.2020, encompassing a 3-week court stay, from the Corporate Insolvency Resolution Process timeline due to the Covid-19 lockdown. The Committee of Creditors unanimously resolved to exclude this period, supported by Regulation 40C of the IBBI Regulations. The Tribunal recognized the lockdown's impact on CIRP activities, allowing the exclusion of 179 days. The decision aimed to ensure compliance with the Insolvency and Bankruptcy Code, facilitating the timely completion of the Corporate Debtor's resolution process. Case-Laws Insolvency and Bankruptcy Wed, 23 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294914