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Judgment
Heard Learned Counsel for Appellant as well as Learned Counsel appearing for the CoC.
This appeal has been filed against the order dated 03.09.2022 by which order Adjudicating Authority has rejected I.A. No. 659 of 2022 filed by the IRP for extension of 90 days in the CIRP. The CIRP was admitted on 31.08.2021. There was change of IRP and new IRP who has filed the appeal was appointed on 25.04.2022.
The Adjudicating Authority on 10.05.2022 has directed the IRP to complete the process by 31.07.2022. The process could not be completed, hence, the application was filed for further extension.
Learned Counsel for the Appellant submits that resolution plan has already been received and the voting has to be completed.
Learned Counsel for the COC also submits that extension be allowed to permit the CIRP to be completed.
After having heard Learned Counsel for the parties we are of the view that ends of justice be served in granting extension of the CIRP period of 90 days from today.
The appeal is disposed of accordingly.