In a move that could potentially enable in finding a suitor under the corporate insolvency resolution process (CIRP), the National Company Law Tribunal-Hyderabad has extended the deadline to evaluate some plans.
The Hyderabad-based hospitality chain Viceroy Hotels Limited may perhaps find a suitor, with the NCLT extending the deadline for resolving the case.
The Judicial Member Ratakonda Murali, while allowing a petition to permit extension of period by exuding 45 days for counting the CIRP process, allowed Resolution Professional (RP) and the Committee of Creditors additional time.
The time period was extended to enable the Resolution Professional and CoC to review the Resolutions Plans which have been already filed.
The NCLT felt that sin…
Read the full article at: https://www.thehindubusinessline.com/companies/nclt-extends-deadline-for-viceroy-hotels-insolvency-resolution-process/article25711654.ece