https://www.taxtmi.com/caselaws?id=418418 The Tribunal dismissed the application for extension of the Corporate Insolvency Resolution Process (CIRP) period beyond 270 days, directing the Resolution Professional to proceed with a liquidation application promptly. The decision emphasized the importance of adhering to statutory timelines and efficient handling of insolvency proceedings within the framework of the law, highlighting the need for timely resolution processes and value preservation of the debtor's assets as per the Insolvency and Bankruptcy Code, 2016. en-us Thu, 27 Jan 2022 00:00:00 +0530 Thu, 17 Feb 2022 07:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418418 The Tribunal dismissed the application for extension of the Corporate Insolvency Resolution Process (CIRP) period beyond 270 days, directing the Resolution Professional to proceed with a liquidation application promptly. The decision emphasized the importance of adhering to statutory timelines and efficient handling of insolvency proceedings within the framework of the law, highlighting the need for timely resolution processes and value preservation of the debtor's assets as per the Insolvency and Bankruptcy Code, 2016. Case-Laws Insolvency and Bankruptcy Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418418