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2021 (3) TMI 1324 - NATIONAL COMPANY LAW TRIBUNAL CUTTACKSeeking extension of time for making payments as per the approved resolution plan - HELD THAT:- The resolution applicant has made substantial payments, however, due to COVID 19 pandemic there is considerable delay in honouring the commitments. Hence, this application is made seeking extension of time. The Ld. counsel further states that the resolution applicant and State Bank of India are negotiating for settlement, and that the settlement talks are in final stages. Considerable amount has been paid to SBI, and substantial payment shall be made on or before 31.03.2021. The negotiations are in final stages. The Ld. Counsel also states that there were various difficulties from different quarters, hence, the Resolution Applicant had to face lot of hardships and difficulties, implementing the plan, consolidating the resources of corporate debtor, people etc. Be it as it may, the applicant shall make all endeavours to make considerable payments on or before 31.03.2021, to prove its bona fide. List this application, along with all other pending applications on 12.04.2021 for hearing.
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