NCLT Ahmedabad Relaxes Timeline Of Implemented Resolution Plan Taking Note Of COVID-19 [Read Order]

In a significant order, the Ahmedabad bench of the National Company Law Tribunal allowed the request of a Resolution Applicant to relax the timeline for completion of its Resolution Plan. The relief was granted by Judicial Member Manorama Kumari in view of the unprecedented lockdown and suspension of business, which adversely impacted the company's cash flow. Consortium...