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2020 (5) TMI 66 - AT - Insolvency and BankruptcyCondonation of delay in the submission of the ‘Resolution Plan’ - condonation sought on the ground that Applicant is not in a position to reasonably evaluate the liabilities and claims that may devolve upon the said Applicant- ‘Sify Technologies Limited’ - HELD THAT:- As per third proviso to Section 12, now 90 days more time has been given to complete the ‘Resolution Process’ from the date the aforesaid amendment has come into force i.e. from 16th August, 2019 - In view of the aforesaid development, as further time has been allowed under the ‘I&B Code’, we are not inclined to interfere with the impugned order dated 7th August, 2019 merely on the ground that the Appellant will have to face the consequence. If one or other ‘Resolution Plan’ is found to be more viable and feasible and will maximise the assets of the ‘Corporate Debtor’, balancing all the stakeholders by maximising the assets of the ‘Financial Creditor’/ ‘Operational Creditor’ and others, no right accrues to any individual Applicant(s) to stall such process. Appeal dismissed.
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