2019 (8) TMI 1482

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..... hola- Member (Technical) For the Applicant : Shri A.V.S.Krishna Mohan, RP. ORDER Per: Hon'ble Shri Narender Kumar Bhola- Member (Technical) 1. This Interlocutory application bearing IA.No. 720/2019 is filed by Resolution Professional under section 12 of Insolvency and Bankruptcy Code, 2016 Read with Regulation 40 of the Insolvency and Bankruptcy Board of India, Regulations, 2016, seeking e .....

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..... the Members with aggregate voting share of 93.68% of total voting share in COC and 100% of voting share of members present, passed resolution to seek extension of time limit of resolution Process and moratorium by ninety days 6. Thus the COC after deliberations, resolved to: seek extension of CIRP by 90 days and also requested the Tribunal to extend the CIRP period. A copy of minutes of 5th COC .....

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..... ority for extension of CIRP. The grounds for extension is to complete the CIRP of the corporate debtor and comply with the timelines as specified in CIRP Regulations and under IBC, 2016 and for the purpose to extend the CIRP period for 90 days beyond 180 days. These are genuine grounds for extension of CIRP by another 90 days. Accordingly application is allowed and CIRP is extended by another 90 d .....

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