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2020 (9) TMI 1195 - Tri - Insolvency and BankruptcySeeking extension of time period of CIRP for a period of 90 days excluding lockdown period - Section 12 of the Insolvency & Bankruptcy Code, 2016 (Code) read with Regulation 12 (2) of IBBI(Insolvency Resolution Process for Corporate Persons) Regulations 2016 - HELD THAT:- As per the decision taken by COC it is prayed that this Adjudicating Authority may be pleased to issue order extending the CIRP process by a period of 90 days from 17.7.2020 excluding the lock down period of 72 days (till 15.10.2020). The extension of CIRP by 90 days is granted and the period of 72 days from 27" August, 2020 to 15" October, 2020 is also considered for being excluded while calculating the number of available days for CIRP calculation.
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