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Mr. Ajay Joseph, Proprietor Of Global Marine Supply Co. ? -and Mr. Ajay Joseph v. Swiber Offshore (i) Pvt. Ltd. ?

Mr. Ajay Joseph, Proprietor Of Global Marine Supply Co. ? -and Mr. Ajay Joseph v. Swiber Offshore (i) Pvt. Ltd. ?

(National Company Law Tribunal)

MA 488/2017 in C.P. No. 51/I&BP/NCLT/MAH/2017 | 11-10-2017

V. Nallasenapathy, Member (Technical):Oral Order dictated in the open court on 11.10.2017

On the application filed by the Insolvency Resolution Professional for extension of Insolvency Resolution period for 90 days more, since the Insolvency Resolution professional has placed resolution passed by the Committee of Creditors with 83% approving the resolution, this Bench hereby extends the Insolvency Resolution Period for another 90 days from 11thOctober, 2017 until 8thJanuary, 2018.

Accordingly, this application is hereby allowed.

Advocate List
Bench
  • M.K. Shrawat, J.M.
  • V. Nallasenapathy, Member (Technical))
Eq Citations
  • LQ/NCLT/2017/8616
Head Note

Insolvency and Bankruptcy Code, 2016 — S. 12 — Extension of Insolvency Resolution Period — 90 days more, since the Insolvency Resolution professional has placed resolution passed by the Committee of Creditors with 83% approving the resolution, granted