R P Nagrath, Member - (1.) Ca No.235/2017 While monitoring the progress reports sent by the Resolution Professional, the file was ordered to be listed as the permitted period of 270 days for completion of the resolution plan had expired. The period of 180 days of completion of resolution plan as given in sub-section (1) of Section 12 of the Insolvency and Bankruptcy Code, 2016 was expiring in the month of September, 2017 and vide order dated 12.09.2017 that period was extended for another period of 90 days in terms of sub-section (3) of Section 12 of the Code. The total period allowed for the resolution plan thus expired on 10.12.2017.
(2.) The Resolution Professional has filed CA No.235/2017 for bringing to the notice of Adjudicating Authority that CWP-27730-2017(O&M) has been filed by Mr. Suman Jolly Managing Director of the Corporate Debtor before the Hon'ble Punjab and Haryana High Court. The Hon'ble High Court has directed issuance of notice in the said petition for 25.01.2018 and in the meanwhile status quo with regard to the functioning of the creditors qua the company to continue. In view of the above, the matter be listed on 15.02.2018 with further progress reports. CA No.235/2017 stands disposed of.;