Delayed submission of Resolution Plan by one day delay should be condoned

Ashdan Properties Privet Limited Vs Harshad Despande / Resolution Professional (NCLT Mumbai)

Conclusion: Delayed submission by one day of the Resolution Plan by the Applicant should be condoned as it had not caused any delayed or prejudice to the interests of any of the parties or has affected the timelines of CIRP. Moreso, the non-consideration of their Plan submitted was bound to cause prejudice to the interest of the Applicant and would be against the objectives of the Code itself which emphasis on ‘maximization of the value of Corporate Debtor’.Please become a Premium member. If you are already a Premium member, login here to access the full content.