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2021 (7) TMI 499 - Tri - Insolvency and BankruptcySeeking permission by suspended director of the Corporate Debtor to submit a Resolution Plan to the R.P and members of the COC - Section 60(5) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- Learned counsel for the respondent stated that since the CIR Process is to be completed on or before 23.7.2021, if this Tribunal grants a short period to the applicant to submit the Resolution Plan, the Resolution Professional has no objection in accepting the Resolution Plan for placing before the CoC for its consideration. Learned counsel for the applicant stated that he may be granted a short time to submit the Resolution Plan bringing to the notice of the Resolution Professional the Certificate obtained by the applicant as an MSME. In view of the fact that the CIR Process is to be completed on 23.7.2021, the applicant is granted permission to submit the Resolution Plan within a week from the date of receipt of this order. If the applicant submits such a Resolution Plan, the Resolution Professional shall place the Resolution Plan before the Committee of Creditors for their consideration and further steps in the matter shall be taken without further delay, so that the CIR Process can be concluded in time. Application disposed off.
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