Jinan K.R., Member - (1.) Ld. Counsel for the Resolution Professional (RP) is present. C.A. (IB) No. 25/KB/2018 has been filed by the RP for extension of period of Corporate Insolvency Resolution Process (CIRP) u/s. 12(3) of the Insolvency and Bankruptcy Act, 2016.
(2.) Ld Counsel appearing on behalf of RP submits that Committee of Creditors (CoC) at its meeting held on 14th December, 2017 directed the RP to move an application for extension of time beyond the period CIRP expires on 18/02/2018.
(3.) Being satisfied that there are certain resolution plans under consideration of the CoC the CIRP period is found to be extended beyond 180 days by 90 days for submission of resolution plan w.e.f. 18/02/2018. List it on 28/03/2018 for filing further progress report or for submission of resolution plan. C.A. (IB) No. 25/KB/2018 is disposed in terms of the above.;