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2017 (12) TMI 1628 - Tri - Insolvency and BankruptcyCorporate insolvency procedure - seeking extension of time for completion of the resolution process - Held that:- This resolution has been passed by 99.67% of the voting share of Committee of Creditors and later 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 period of 180 days which is stated to be expiring on 07.01.2018 is extended for 90 days in terms of Section 12 (3) of the I & B Code, 2016 for completion of the resolution process.
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