- (1.) C.A. No.02(PB) /2018 This is an application filed by the Resolution Professional with a prayer for extending the period for CIRP beyond 180 days as per the provisions of Section 12(2) of the IBC.
(2.) The reason for the delay has been explained in para 12 stating that the audited financial statements for the Financial Year 2016-17 and the provisional financial statements for the period starting from 01.04.2017 and ending on 06.08.2017 were delayed and expected to be received by the end of December, 2017.
(3.) However, at the time of hearing, Mr. Kalia, learned Counsel for the Resolution Professional has stated that draft audited financial statements were received on 27.12.2017.;