INDIAN BANK Vs. KADEVI INDUSTRIES LIMITED

JUDGEMENT

(1.) The present Company Application bearing CA No. 154/2017 in CP (IB) 10/7/HDB/2017 is filed by Shri Raghu Babu G, Resolution Professional under Section 12 of Insolvency and Bankruptcy Code, 2016 RAv Regulation 40 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, by seeking a direction to extend the Corporate Insolvency Resolution Process for a further period of 90 days from 11.09.2017.

(2.) Heard Shri V.K. Sajith, Learned Counsel for the Financial Creditor and Shri G. Raghu Babu, Learned Interim Resolution Professional.

(3.) The Learned IRP submitted, that in pursuant to admission of the case by the Adjudicating Authority on 15.03.2017 appointing him as IRP, the following developments taken place:-