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TMI Blog2017 (12) TMI 1628X X X X Extracts X X X X X X X X Extracts X X X X ..... r on two more creditors exercised voting rights by e-voting which ultimately resulted the resolution being passed with 100% voting in favour of the resolution for seeking extension. Having heard the learned counsel for the applicant and the reasons explained in the resolution itself which have been highlighted in the instant application, the application deserves to be accepted. Accordingly, the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The reasons for delay in the process have been explained in the minutes of meeting aforesaid under item No. 1 as under:- The delay is attributed to several reasons viz delayed appointment of undersigned as Resolution Professional; non- appointment of Registered Valuers by Interim Resolution Professional (IRP) leading to delay in submission of valuation reports by the two registered valuers ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016 and shall put up all plans which meet the criterion as mentioned in the IBC, before the COC f or its approval and thereafter before the Hon ble NCLT, Chandigarh Bench for its consideration. Further, he submitted that the process of approval of Resolution Plan in the matter may not get co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eing passed with 100% voting in favour of the resolution for seeking extension Having heard the learned counsel for the applicant and the reasons explained in the resolution itself which have been highlighted in the instant application, the application deserves to be accepted. Accordingly, the period of 180 days which is stated to be expiring o n 07.01.2018 is extended for 90 days in terms of Sect ..... X X X X Extracts X X X X X X X X Extracts X X X X
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