https://www.taxtmi.com/caselaws?id=421494 The Tribunal dismissed the application for a 30-day extension for completing the corporate insolvency resolution process (CIRP) due to the absence of a concrete Resolution Plan and indecision among the Committee of Creditors (CoC). Despite arguments and legal precedents cited, the Tribunal found that granting the extension would not serve the intended purpose, leading to the application lacking merit. No costs were imposed on the parties, considering the circumstances and lack of progress in the CIRP despite previous extensions. en-us Mon, 11 Apr 2022 00:00:00 +0530 Tue, 26 Apr 2022 08:15:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421494 The Tribunal dismissed the application for a 30-day extension for completing the corporate insolvency resolution process (CIRP) due to the absence of a concrete Resolution Plan and indecision among the Committee of Creditors (CoC). Despite arguments and legal precedents cited, the Tribunal found that granting the extension would not serve the intended purpose, leading to the application lacking merit. No costs were imposed on the parties, considering the circumstances and lack of progress in the CIRP despite previous extensions. Case-Laws Insolvency and Bankruptcy Mon, 11 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421494