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2021 (9) TMI 8 - NATIONAL COMPANY LAW TRIBUNAL , BENGALURU BENCHSeeking to grant an extension of 120 days to the Applicant for balance payment - seeking to direct the Resolution Professional (RP) to complete all formalities including but not limited to opening of Bank Account, transfer of shareholding and directorship and hand over the management of the Corporate Debtor to the Resolution Applicant - HELD THAT:- The Resolution Applicant is seeking for extension of 120 days for making balance payment of ₹ 12.78 Crores as per the approved Resolution Plan from the Adjudicating Authority. Further, the matter has been negotiated by both the parties and approval has already been granted by the CoC i.e., sole financial creditor, and the successful Resolution Applicant agreed to pay ₹ 15,00,000/- extra over and above to the agreed amount. In view of the same, an extension of 03 months of time is granted for making the balance payment. Petition disposed of by granting 03 (Three) months of time for making the balance payment.
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