IRP Directed to Expedite CIRP u/ss 18-21 of Insolvency Code; Must Form CoC and Avoid Delays.

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....CIRP - role of IRP - The IRP is directed to proceed with CIRP. Obviously, the IRP has to take further proceeding in CIRP as per sections 18 to 21 of the IBC, 2016. He has to constitute CoC and proceed further in CIRP. He cannot sit idly for years together controlling the affairs of the Corporate Debtor. In our considered opinion, IRP misread some orders of the Hon'ble NCLAT. - Tri....