IN RE Vs. PRAG DISTILLERY (P) LTD

JUDGEMENT

(1.) On MA 660/2017 in CP 1067/2017 moved by the Resolution Professional seeking extension of Corporate Insolvency Resolution Process (CIRP) period for 90 more days in excess of 180 days already granted which is due to expire on 23.12.2017, this Bench, looking at the resolution passed by the Committee of Creditors (CoC) for extension of time on the ground that the CoC could not finalise a Resolution Plan before expiry of 180 days, hereby provided extension of 90 days period giving effect from 24.12.2017 as envisaged under sub-section 2 of Section 12 of the Insolvency and Bankruptcy Code.

(2.) Accordingly, this MA 660/2017 is hereby allowed.