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Judgment
IA No.343/2022
The present application has been filed under Section 12(2) of the Code, 2016 with a prayer to extend the period of CIRP by 90 days on the grounds mentioned in the application and the approval for filing of this application has been granted, vide resolution passed in 2nd CoC meeting dated 7th October, 2022 with 100% voting share. It is stated that the period of 180 days of CIRP is going to expire on 24th October, 2022.
Keeping in view the facts and circumstances and the grounds mentioned in the application, the present IA No.343/2022 is allowed and period of 90 days is extended w.e.f. 25th October, 2022 and RP is directed to make the best utilization of the extended time period for resolution of the corporate debtor.
Accordingly, IA No.343/2022 stands disposed of.