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Judgment
This is an application filed for urgent listing of the IA (IBC)/866/2025, which has been taken up today. Accordingly, this IA (IBC)/865/2025 has become infructuous and is disposed of.
This application has been moved for seeking extension of 45 days of CIRP period beyond the extended period, which was allowed vide order dated 17.03.2025, where the extension was allowed up to 12.05.2025.
Considering the facts and circumstances narrated in the application including the resolution passed by the CoC for extension of the 45 days time period and the submissions made by the Ld. Counsel for the Applicant today, including the fact that the CoC is at the final stage of analyzing and appraising the resolution plans received by the RP from the Prospective Resolution Applicants, we allow 45 days’ extension in the CIRP period w.e.f. 13.05.2025, subject to the direction that if the CIRP process is not completed within the time period as extended vide this Order, this Bench will consider proceeding with the liquidation of the CD.
Accordingly, this application is disposed of.