H P Chaturvedi, Member - (1.) Cp No. (IB) 23/ALD/2017,CA No.191/2017 Shri Praveen Bansal, RP present in person and filed the present application seeking extension of time beyond 180 days for further 90 days, in order to complete Insolvency Resolution Process. The present application is filed under section 12(2) read with Rule 40 of the I & B Code. The reason shown for extension of time appears to be reasonable. Further the learned RP present in person justify for seeking further extension of time as the Committee of Creditors is moving ahead to materialized the Resolution Plan.
(2.) In view of this, the present application filed, deserves to be allowed. Hence, it is allowed and further extension of 90 days is granted beyond the 180 days, which is expiring on 08.10.2017 in order to complete CIRP. The present is allowed and disposed of accordingly.
(3.) A copy of this order be issued to RP Shri Praveen Bansal as well as Insolvency and Bankruptcy Board of India.;