R.P. Nagrath, Member - (1.) This application has been filed under Section 12 (2) of the Insolvency and Bankruptcy Code. 2016 (for short, the 'Code') read with Regulation 40 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 for extension of time for completion of the insolvency resolution process. The last meeting of Committee of Creditors was held on 05.09,2017 in which a decision was taken for applying for extension of 90 days time beyond 180 days period originally available under sub-section (1) of Section 12 of the Code. Learned counsel for the applicant submits that interim Resolution Professional was appointed on 16.03.2017 and thereafter there was a decision for appointing another Resolution Professional to replace the Interim Resolution Professional. The Resolution Professional was appointed on 31.05.2017 who has been sending progress reports regularly. It is also submitted that Information Memorandum was also submitted by the Resolution Professional for the Committee of Creditors on 11.07.2017. in the last meeting of the Committee of Creditors, the Corporate Debtor itself submitted the resolution plan to the Committee of Creditors on 05.09.2017. It is submitted that the circumstances for delay in submitting the plan is that fresh valuers were appointed on the decision of Committee of Creditors. First valuer submitted his report on 25.05.2017 whereas the second submitted on 16.06.2017. Looking into the aforesaid circumstances and that the resolution plan has been submitted quite late by only the Corporate Debtor who had been attending the meetings being convened by the Interim Resolution Professional as well as the Resolution Professional, the period of completion of resolution process is extended for another 90 days. The application stands allowed in these terms.;