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Judgment
This is an application filed by the Resolution Professional seeking extension of CIRP by further 90 days. In the 3rd CoC meeting held on 12.06.2019 the agenda item No. 2 for consideration of the extension of the CIRP period was placed before the CoC. Ld. Counsel further states that CoC consists of sole financial creditor namely Edelweiss Asset Reconstructions Company and in the said meeting the financial creditor made representation by video conferencing mode and oral consent given through video conferencing with respect to said agenda. Since there was only one expression of interest received so far, it was decided to invite expression of interest afresh for better resolution. In view of the same CoC with 100% voting share held by sole CoC member resolved and passed a resolution to approach the Adjudicatory Authority by filing the application for extension of period by 90 days. In view of the submissions made by the Ld. Counsel and documents annexed with the application, the application is allowed. Extension of the period of CIRP by further 90 days beyond 29.07.2019 is granted which shall come to an end on 27.10.2019. Application is allowed accordingly.
CA-1423(PB)/2019 stands disposed of.