https://www.taxtmi.com/caselaws?id=425272 The Tribunal approved the exclusion of specific periods from the Corporate Insolvency Resolution Process (CIRP) timeline, considering delays in appointment of Resolution Professional (RP) and non-completion of CIRP activities. It reviewed the appointment and replacement of Interim Resolution Professional (IRP) and RP, acknowledging the necessity to exclude certain periods for smooth conduct of CIRP. The delay in completing essential CIRP activities led the Committee of Creditors (CoC) to seek a 330-day extension, which was approved. The Tribunal referenced legal provisions and precedents to grant relief, emphasizing adherence to IBBI regulations and efficient completion of CIRP activities. en-us Fri, 01 Jul 2022 00:00:00 +0530 Tue, 19 Jul 2022 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425272 The Tribunal approved the exclusion of specific periods from the Corporate Insolvency Resolution Process (CIRP) timeline, considering delays in appointment of Resolution Professional (RP) and non-completion of CIRP activities. It reviewed the appointment and replacement of Interim Resolution Professional (IRP) and RP, acknowledging the necessity to exclude certain periods for smooth conduct of CIRP. The delay in completing essential CIRP activities led the Committee of Creditors (CoC) to seek a 330-day extension, which was approved. The Tribunal referenced legal provisions and precedents to grant relief, emphasizing adherence to IBBI regulations and efficient completion of CIRP activities. Case-Laws Insolvency and Bankruptcy Fri, 01 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425272