https://www.taxtmi.com/caselaws?id=419954 The Tribunal declined the extension of the Corporate Insolvency Resolution Process (CIRP) period, citing non-compliance with the Insolvency and Bankruptcy Code (IBC) and IBBI Regulations. Conditional resolution plans requiring lease renewal were criticized, and the Tribunal directed the Committee of Creditors to evaluate them in line with IBC provisions. Time spent on the application was excluded, emphasizing the need to avoid further delays to prevent asset devaluation. The petition was disposed of without costs, emphasizing adherence to IBC guidelines. en-us Mon, 14 Mar 2022 00:00:00 +0530 Wed, 23 Mar 2022 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419954 The Tribunal declined the extension of the Corporate Insolvency Resolution Process (CIRP) period, citing non-compliance with the Insolvency and Bankruptcy Code (IBC) and IBBI Regulations. Conditional resolution plans requiring lease renewal were criticized, and the Tribunal directed the Committee of Creditors to evaluate them in line with IBC provisions. Time spent on the application was excluded, emphasizing the need to avoid further delays to prevent asset devaluation. The petition was disposed of without costs, emphasizing adherence to IBC guidelines. Case-Laws Insolvency and Bankruptcy Mon, 14 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419954