STATE BANK OF INDIA Vs. ADHUNIK METALIKS LTD

JUDGEMENT

(1.) Ld. Counsel for the Resolution Professional (RP) is present. CA(IB) No. 26/KB/2018 has been filed by the RP for extending the time period of corporate insolvency resolution process (CIRP) . He has filed this CA on the basis of the recommendation of the Committee of Creditors (CoC) with 98.80% vote share and annexed the minutes of the meeting of the CoC with his application. In view of the recommendation of the CoC with 98.80% vote share and being satisfied that CIRP cannot be completed within 180 days, we hereby extend the time period of CIRP by 90 days for submission of resolution plan w.e.f. 30/01/2018. CA(IB) No. 26/KB/2018 is disposed of accordingly.