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2021 (3) TMI 147 - NATIONAL COMPANY LAW TRIBUNAL, KOCHI BENCHSeeking extension of the period of Corporate Insolvency Resolution Process for a further period of 90 days - section 12(2) of IBC 2016 - HELD THAT:- In view of the fact that there is only one Prospective Resolution Applicant before the Committee of Creditors as on date and the time to examine the resolution plan under the Code and verification of the contents of the resolution plan is limited, and also the intention of the Committee of Creditors to invite fresh Expression of Interest to enable more bona fide resolution applicants to bid for the revival of the Corporate Debtor seems to be reasonable, I am of the view that the request of Resolution Professional to extend the CIRP period for a further period of 90 days is justifiable. The prayer of the Resolution Professional to extend the period of Corporate Insolvency Resolution Process for a further period of 90 days from 18-10-2020 is hereby allowed.
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