https://www.taxtmi.com/caselaws?id=444671 The court upheld the decision of the learned Single Judge, affirming that the NCLT lacks jurisdiction to extend the Corporate Insolvency Resolution Process (CIRP) beyond the statutory period outlined in Section 12 of the IBC 2016. The NCLT's order granting a 30-day extension was deemed contrary to the mandatory provisions of the Code. The court dismissed the writ appeal, finding it without merit, and maintained the judgment that invalidated the NCLT's extension order, emphasizing adherence to the statutory timeline for CIRP completion. en-us Wed, 18 Oct 2023 00:00:00 +0530 Fri, 20 Oct 2023 10:09:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444671 The court upheld the decision of the learned Single Judge, affirming that the NCLT lacks jurisdiction to extend the Corporate Insolvency Resolution Process (CIRP) beyond the statutory period outlined in Section 12 of the IBC 2016. The NCLT's order granting a 30-day extension was deemed contrary to the mandatory provisions of the Code. The court dismissed the writ appeal, finding it without merit, and maintained the judgment that invalidated the NCLT's extension order, emphasizing adherence to the statutory timeline for CIRP completion. Case-Laws Insolvency and Bankruptcy Wed, 18 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444671