Mohd Sharief Tariq, Member - (1.) Mr. R. Venkatakrishnan, RP along with his Counsel present and submitted to extend the period of the Corporate Insolvency Resolution Process for further a period of 90 days under section 12(2) of the IBC, 2016 on the ground that the Corporate Debtor has filed one Writ Petition No. 15627/2017 before the Hon'ble High Court of Madras. The same was withdrawn on 21.08.2017 and thereafter an appeal was filed before the Hon'ble NCLAT, New Delhi on 14.09.2017 which has been dismissed on 20.11.2017. The time period of 90 days will be over on 26.11.2017.
(2.) In view of the circumstances and as has been recommended by the CoC in its meeting on 01.11.2017, the time period of the Corporate Insolvency Resolution Process against the Corporate Debtor is extended for 90 days with effect from 26.11.2017. The order passed on 30.05.2017 shall remain in operation for a further period of 90 days. Accordingly, CA/44/2017 stands disposed of.;