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Judgment
2 paragraphs · 118 words
The matter is taken up on VC. The Counsel for the Applicant is present. The mentioning praecipe filed by the Applicant is taken on record and allowed.
Heard the Counsel for the Applicant in IA 776 of 2020, praying for extension of CIRP period by 90 days on the basis of the resolution passed by the CoC in the 3rd meeting held on 05.02.2020. It is submitted that the CoC has approved the extension with the vote share of 100%. Since the Application is in consonance with Section 12 of the IBC, 2016, the Application is allowed and the CIRP is extended by 90 days from today and accordingly, the CIRP will come to an end on 24.01.2021.