PEERLESS FINANCIAL SERVICES LTD Vs. RASOYA PROTEINS LTD

JUDGEMENT

(1.) Oral Order dictated in the open court on 20.12.2017 On the application moved by the Insolvency Resolution Professional stating that Committee of Creditors passed a resolution seeking extension of CIRP period for another 90 days which is to expire on 22.12.2017 in the meeting held on 16.11.2017, on the ground that more time is required to get resolution plan from the stakeholders, the CIRP period is hereby extended for more 90 days, as envisaged in Section 12(2) of the Insolvency and Bankruptcy Code, 2016 from 22.12.2017. The Resolution Professional is hereby directed to file progress report on or before 31.1.2018.

(2.) Accordingly, the MA No.676/2017 is hereby allowed.