2021 (4) TMI 897

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..../IB/2020 in IBA/660/2019 - -<br>Insolvency & Bankruptcy<br>R. Sucharitha, Member (J) And B. Anil Kumar, Member (T) For the Appellant : V. Venkata Sivakumar, Chartered Accountant, Authorized Representative ORDER R. Sucharitha, Member (J) Order Pronounced on: 07.04.2021 IA/142(CHE)/2021 in IBA/660/2019: 1. This application has been filed under Section 12(2) & 12(3) and Section 60(5....

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....solution Applicants for better realization besides giving sufficient time to Financial Creditors to evaluate the plan before submitting to Hon&#39;ble NCLT for approval of the plan, an extension till 27th March 2021 be sought". 4. The Applicant/RP states that a period of 30 days was lost because of error in the name of the Interim Resolution Professional and another period of 30 days also was l....

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....imum period admissible under Section 12(2) & 12(3) of the Code is 330 days. However, considering that this Applicant/RP had to undergo harassment and also criminal cases as a Resolution Professional in respect of M/s. Bhatia Coke and Energy Limited, the company under CIRP, considerable time and energy was lost. Hence, the Applicant could not effectively conduct the CIR process. Furthermore, the Co....