NCLAT allows exclusion of 90 days from the CIRP

In Re Vinod Tarachand Agrawal Resolution Profession of Mayfair Leisures Limited (NCLAT Delhi) The Ld counsel for the appellant has stated that the exclusion of 90 days from the CIRP of the CD would save the company from ‘Liquidation’. It was also pointed out by the ld. Counsel that there was a ‘Prospective Resolution Applicant’ who has submitted his ‘Resolution Plan’ & there is likelihood for revival of the CD. Due to prevalent pandemic, there was not much progress in deattachment of property from ED at Tribunals/Courts. The CoC has also considered reissue of ‘Expression of I...