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Judgment
IA No.330/2022
The present application is listed for taking up the 5th progress report. The same be taken on record subject to just exceptions.
Accordingly, IA No.330/2022 is disposed of.
IA No.371/2022
The present application has been filed under Section 12(2) of IBC, 2016 with a prayer to extend the period of CIRP by 30 days beyond 330 days. It is stated by the RP that 330 days are going to expire on 2nd November, 2022 and the process is at final stage for consideration of the Resolution Plan. It is further stated that the resolution has been passed by the CoC on 14th October, 2022 with 100% voting shares.
Keeping in view the facts and circumstances mentioned in the application and in the interest of justice, the extension of 30 days is granted beyond 330 days and RP is directed to utilise this time efficiently to complete the process within next 30 days and no further extension will be given.
Accordingly, IA No.371/2022 is disposed of.