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2017 (9) TMI 256 - HC - Insolvency and BankruptcySeeking amendment of the cut-off date in the scheme sanctioned by the BIFR - petitioner seeks extension of the period of rehabilitation from 31.03.2018 to 31.03.2020, without any change in the terms and conditions of the scheme sanctioned by the BIFR - Insolvency and Bankruptcy Code, 2016 applicability - Held that:- Once BIFR and AAIFR have been dissolved under the Insolvency and Bankruptcy Code, 2016, the adjudicating authority for insolvent companies is the National Company Law Tribunal (NCLT). In view of the order dated 24.05.2017 issued by the Government, clarifying the position in respect of companies that have sanctioned schemes, and further empowering the NCLT to approve the resolution plan, no further orders are required to be passed on the present petition, which is accordingly disposed of along with the pending application with liberty granted to the petitioner to approach the NCLT (Calcutta), if so advised.
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