B.S.V. Prakash Kumar, Member - (1.) On MA 32/2018 in CP 716/2017 moved by the Resolution Professional on 10.01.2018 seening extension of Corporate Insolvence Resolution Process (CIRF) period for 90 more days in excess of 180 days already granted which was expired On 15.01.2018 therefore this bench looking at the resolution passed by the Committe of Cridetors (COC) with 100% voting share of the coc for extension of time on the ground that the CoC is in the Process of identifying potential investors to support the company, hereby provided extension of 90 days period giving effect from 16.01.2018 as envisaged under sub section 2 of Section 12 of the Insolvence and Bankruptcy Code, 2016.
(2.) According this MA 32/20,8 is hereby allowed.;