M.M. Kumar, Member - (1.) C.A. No. 47S(PB) /2017 This is an application filed under Section 12(2) of the IBC with a prayer to extend time for corporate insolvency resolution process of the Corporate Debtor beyond the period of 180 days, which is coming to an end on 21.01.2018. The reason for seeking extension have been given in the application.
(2.) It is asserted that the Resolution Professional along with the Committee of Creditors of the Corporate Debtor have been working towards resolution of the insolvency/financial affairs of the Corporate Debtor.
(3.) He invited the expression of interest and a number of potential resolution applicants, of which 7 have executed the confidentiality undertaking have come forward. Out of 7, 6 have sought access to the virtual data room in order to carry out necessary due diligence and 4 of them have completed the site visits.;