https://www.taxtmi.com/caselaws?id=295425 The Appellate Tribunal allowed the appeal by the Committee of Creditors, granting an exclusion of 203 days from the Corporate Insolvency Resolution Process (CIRP) period due to the COVID-19 lockdown and the Resolution Professional's illness. An extension of 90 days for the CIRP was also approved. The Tribunal emphasized the impact of the pandemic and lockdown on the CIRP progress, overturning the order dismissing the exclusion and extension application. The Appellant was instructed to proceed promptly with the CIRP, with the judgment forwarded to the Adjudicating Authority for implementation. en-us Tue, 15 Dec 2020 00:00:00 +0530 Thu, 03 Jun 2021 08:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295425 The Appellate Tribunal allowed the appeal by the Committee of Creditors, granting an exclusion of 203 days from the Corporate Insolvency Resolution Process (CIRP) period due to the COVID-19 lockdown and the Resolution Professional's illness. An extension of 90 days for the CIRP was also approved. The Tribunal emphasized the impact of the pandemic and lockdown on the CIRP progress, overturning the order dismissing the exclusion and extension application. The Appellant was instructed to proceed promptly with the CIRP, with the judgment forwarded to the Adjudicating Authority for implementation. Case-Laws Insolvency and Bankruptcy Tue, 15 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295425