2022 (8) TMI 1433 - Tri - Insolvency and Bankruptcy

Seeking extension of the Corporate Insolvency Resolution Process period by 30 days - CIRP was initiated on 23-11-2021 and 270 days are going to expire on 20-08-2022 - HELD THAT - It has been submitted that a resolution with regard to extension of CIRP was approved with 87.26% voting by the Members of Coc - The period of CIRP extended for a further period of 30 days beyond 270 days. The prayer of the present application is allowed.

Summary

The Tribunal granted an extension of 30 days for the Corporate Insolvency Resolution Process as requested by the Resolution Professional. The extension was approved due to a resolution with 87.26% voting by the Members of CoC.