Delay of 26 days in filing report u/s. 106 of IBC by resolution professional condoned as reasonable cause shown

Naseer Ahmed Vs Ravindra Beleyur (NCLAT Chennai) NCLAT Chennai held that delay of 26 days in filing of the report under Section 106 of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional condoned as reasonable cause of non-submission of the repayment plan and relevant information by the Guarantor shown. Facts- Issue involved herein is that as per the provisions of Section 106 of the I & B Code, 2016, the Resolution Professional was expected to submit before the Ld. Adjudicating Authority the repayment plan received from the Personal Guarantor along with his report on ...