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NCLT's Decision to Extend CIRP Under Scrutiny for Alleged Arbitrary Actions, Raising Concerns Over Legal Standards Compliance.

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....Consideration of Resolution plan - Validity of order of NCLT excluding and extending CIRP period - the plan is pending for approval before the same Adjudicating Authority and the Adjudicating Authority for reasons best known to it allowed the application filed by the Respondents No. 5 to 7 is arbitrary and against all canons of law. - AT....

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