- (1.) Counsel for RP present and made his submissions. The earlier auditor, M/s. SNB Associates, is directed to issue NOC as well as transfer the necessary papers to the newly appointed auditor of the corporate debtor, M/s. CNGSN & Associates. It has been noted by this Tribunal that the dues of the earlier audit has been admitted to the extent of Rs. 1,23,69,272 and it has been included as the operational credit with respect to the corporate debtor.
(2.) The resolution professional has made a proposal for extending the period of moratorium by 90 days. The total period of 270 days is upto 14.05.2018. This has been approved by the CoC at its 5th meeting wherein 89.91 of the creditors have approved the extension of the period of moratorium. The rest of the creditors did not oppose the same but abstained from voting. In view of this, the Tribunal is of the opinion that in the interest of the resolution process, the period of moratorium will be extended by 90 days, i.e. till 14.05.2018. With the above observations, the CA is disposed of.;