2020 (1) TMI 1349

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..... en moved u/s.12(2) & (3) of the Insolvency and Bankruptcy Code, 2016 and Regulation 40 of IBBI (Insolvency Resolution Process of Corporate Persons) Regulations, 2016 r/w. attendant Rules & Regulations seeking for extension of time of the Corporate Insolvency Resolution Process of the Corporate Debtor by a further period of 90 days which was due to expire on 12.01.2020. Learned Counsel for the Appl .....

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..... fy our order dated 18.10.2019 to mean that it will not come in the way of the Resolution Professional from drawing amounts that are necessary, in terms of the ESCROW Agreement dated 20.08.2009. from the frozen account so as to continue to run the Corporate Debtor as a going concern. The application stands disposed of. Taking in to consideration the above order passed by the Hon'ble Supreme .....

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