INDIAN BANK Vs. VARUN RESOURCES LTD

JUDGEMENT

(1.) Oral Order dictated in the open court on 18.12.2017 On the application moved by the Insolvency Resolution Professional on 8.12.2017 stating that Committee of Creditors passed a resolution seeking extension of CIRP period for another 90 days which is to expire on 10.12.2017 in the meeting held on 24.11.2017, with the requisite majority, the CIRP period is hereby extended for 90 more days, as envisaged in Section 12(2) of the Insolvency and Bankruptcy Code, 2016 from 3.12.2017. Accordingly, the MA No.649/2017 is hereby allowed.