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2020 (9) TMI 304 - Tri - Insolvency and BankruptcyExtension of CIRP period - extension of 90 days' time period beyond 180 days and also exclusion of a period of 99 days lost due to various reasons - HELD THAT:- In this case, the commencement of CIRP was approved by this Adjudicating Authority and 180 days was completed on 31.03.2020. in view of the progress made in the CIRP and 97.5% voting shares of the CoC members in favour of the Resolution passed by the CoC in its 5th meeting held on 24.03.2020, this Adjudicating Authority hereby grants extension of CIRP period in the matter of M/s. KSK Mahanadi Power Company Limited beyond 180 days by further 90 days - It is further made clear that the computation of such extension of time period shall be computed in accordance with the Regulation 40C of IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2020. This Adjudicating Authority deems it proper not to adjudicate upon the aspect of exclusion of period of 99 days at this point of time. However, Applicant/RP is at liberty to approach before this Adjudicating Authority at appropriate juncture of time, if desired so - Application disposed off.
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