2018 (5) TMI 1802 - Tri - Companies Law

Extension of period for finalizing the Resolution Process - Held that - The 180 days expired on 13th May, 2018 and the present application had been filed on 10th May, 2018. The resolution passed by the COC authorising the RP to file the present application has been annexed. In view of the submissions made and the averments made in the said application, this Bench is of the opinion that it would be expedient to extend the Resolution Plan for another 90 days. This application is allowed.

Summary

The National Company Law Tribunal, New Delhi extended the Resolution Process by another 90 days as requested by the Resolution Professional. The application was filed before the expiry of the initial 180-day period, and the COC had authorized the filing. An interim report is to be filed, and the case is disposed of. (2018 (5) TMI 1802)