https://www.taxtmi.com/caselaws?id=414244 The National Company Law Appellate Tribunal dismissed an appeal by a Resolution Professional seeking exclusion of time period during Corporate Insolvency Resolution Process (CIRP) due to Covid-19 and non-cooperation of the Corporate Debtor's director. The Tribunal emphasized the importance of obtaining approval from the Committee of Creditors for extending CIRP beyond 180 days. Despite arguments for exclusion, the Resolution Professional failed to justify or seek approval, leading to dismissal of the appeal. The judgment highlights the necessity of adhering to statutory provisions and procedural requirements in insolvency proceedings for efficient resolution of Corporate Debtors. en-us Fri, 29 Oct 2021 00:00:00 +0530 Mon, 01 Nov 2021 07:09:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414244 The National Company Law Appellate Tribunal dismissed an appeal by a Resolution Professional seeking exclusion of time period during Corporate Insolvency Resolution Process (CIRP) due to Covid-19 and non-cooperation of the Corporate Debtor's director. The Tribunal emphasized the importance of obtaining approval from the Committee of Creditors for extending CIRP beyond 180 days. Despite arguments for exclusion, the Resolution Professional failed to justify or seek approval, leading to dismissal of the appeal. The judgment highlights the necessity of adhering to statutory provisions and procedural requirements in insolvency proceedings for efficient resolution of Corporate Debtors. Case-Laws Insolvency and Bankruptcy Fri, 29 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414244