I.A. Nos. 2792 of 2024
1. This is an application filed by the Resolution Professional (RP) praying for extension of time.
2. The Appeal was disposed of by our order dated 29.01.2024, by which Appeal in paragraphs 5 & 6 we directed as follows:
“5. Learned Counsel for the Appellant lastly submitted that as a last resource 60 days’ time be allowed to enable the issuance of fresh Form-G and in event any EoI is received, the process will be completed, failing which appropriate steps will be taken by the RP himself for liquidation of the Corporate Debtor.
6. Considering the aforesaid, we accept the prayer of the Appellant and grant 60 days’ time for issuance of Form-G and taking steps to complete the process, if any, within 60 days from today, failing which RP shall file an appropriate application for liquidation of the Corporate Debtor.”
3. In this application, RP submits that the Form-G was published on 01.02.2024 and thereafter in response to Form-G, 23 Expression of Interests (EoIs) have been received and he has also received three Plans.
4. It is submitted that for completing the process some more time is necessary.
5. Learned Counsel Mr. Vyas appearing for the promoters submits that the RP has not make correct statement in the Appeal.
6. In view of the facts as mentioned in the application, we extend the time as allowed by our order dated 29.01.2024 for further period of 60 days i.e., till 29.05.2024.
7. Insofar as objections of the promoters are concerned, it is open for them to file appropriate application and objection before the Adjudicating Authority, if any Plan approval comes for consideration.
With these observations, we disposed of this application.
