9911796707
TMI Blog2018 (1) TMI 1655X X X X Extracts X X X X X X X X Extracts X X X X ..... 018 and has sought for further extension of period by 90 days to be calculated from the date of the pronouncement of order i.e. 16.01.2018. However, in this respect the Resolution Professional has invoked Rule 11 of NCLT Rules, 2016 read with Rule 51 of NCLT Rules, 2016 seeking for modification under the provisions of IBC under Section 12(2) read with Regulation 40(2) of Insolvency and Bankruptcy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss within the extended period of 90 days. Application dismissed. - No. CP IB-73(PB)2017 - - - Dated:- 25-1-2018 - R. VARADHARAJAN HON'BLE MEMBER (JUDICIAL) AND DEEPA KRISHAN HON'BLE MEMBER (TECHNICAL) For the Petitioner : Mr. Pradeep Dahiya, Advocate ORDER This is an application which has been filed by the Insolvency Resolution Professional (IRP). P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was filed after the expiry of 180 days and the IRP has filed Petition for condonation of delay in filing the application as 270 days had not expired at that point of time. The application in CA No. 402(PB)/2017 was heard on 22.11.2017 and the same was reserved and order in the application was pronounced on 16.1.2018. In the circumstances, it is represented by the present RP that the present appli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... further perusal of Section 12(3) shows that this Tribunal has got power to extend the time period by 90 days beyond 180 days and not exceeding the said extended period of 270 days. Since the time limit beyond 270 days cannot be extended for completing the CIRP process, this Tribunal is not in a position to allow the prayer as sought for by the Resolution Professional and hence in the circumstances ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
