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Judgment
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IA No. 251/2022
The present application has been filed under Section 12(2) & (3) of IBC, 2016 R/w Regulation 40 of IBBI of CIRP Process Regulations, 2016 for extension of 90 days’ period of CIRP beyond 180 days w.e.f. 22nd August, 2022 for completion of CIRP process as the period of 180 days has already expired on 21st August, 2022. The extension of 90 days’ period has been approved by CoC in its 5th Meeting dated 4th August, 2022 with 74.01% of voting shares.
Keeping in view the facts and circumstances mentioned in the application, the extension of 90 days is granted beyond 180 days period.
Accordingly, IA No. 251/2022 is allowed and disposed of