Ch Mohd Sharief Tariq, Member - (1.) Rp in person present along with the Counsel for Petitioner and submitted that the time period of the moratorium/corporate insolvency resolution process be extended by 90 days, as has been approved in 2nd CoC's meeting held on 13.12.2017.
(2.) It has been submitted by the RP that there are three resolutions under consideration and more time is required to place workable resolution before the Adjudicating Authority for reviving of the business of the Corporate Debtor.
(3.) In the light of the resolution passed by the CoC and the submissions made by the RP, the time period of 90 days is extended with effect from 17.12.2017 onwards, with the direction to the RP to expedite resolution plan, if any, within the extended period. Accordingly, CA/57/2017 stands disposed of.;