IN RE Vs. JEKPL LTD

JUDGEMENT

(1.) None for the applicant/corporate debtor. However, this Tribunal is in receipt of communication dated 7"' July. 2017 from the RP Sh. Mukesh Mohan, communicating such that he is in process of comply the decision of COC in case of the JEKPL Pvt. Ltd. towards the claim of Axis Bank. Pursuant to the decision of the COC meeting held on 28.02.2017 and he will apprise of this court after consulting the COC. Such communication is taken on record. A copy thereof be provided by the registry of this court to the counsel for Axis Bank, which is now stated to have been received.

(2.) Since, the Ld. RP is stating such that he is in process of comply with the decision of COC he will apprise of the development after obtaining a legal opinion and placing it before the COC. Therefore, the RP is directed to communicate its conclusive findings to this court by two weeks and to inform the same to the Axis Bank also.

(3.) We further considered the application moved by the RP Sh. Mukesh Mohan (although today there is no representation from him today) seeking further extension of time for completing the incorporate insolvency process U/s 12(3) of the Insolvency & Bankruptcy Code wherein the RP has submitted that almost 112 days have been passed since start of the RP but he is still in process of receiving documents, record etc. from IRP. Therefore, there is necessity for extension of period to complete corporate insolvency process. Considering the above stated reason shown in his application, which appears y to be reasonable and convincing. Hence, his request is exceeded to the petition is allowed in terms of its prayer clause by extending further period of 90 days after completion of initial 180 days (w.e.f 17.09.2017) . A copy of this order be communicated to the RP.