ASIAN HOTELS (WEST) LTD. - Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP)
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| 23 Mar 2023 | |
| Pursuant to Regulation 30 of SEBI (LODR), we hereby inform you that in accordance with the approval of the Committee of Creditors (CoC) in its 8th meeting convened on March 6, 2023, an application (IA/1423/ND/2023) was filed by the Resolution Professional, before the Hon'ble National Company Law Tribunal ('NCLT'), Delhi Bench IV, seeking extension of period of Corporate Insolvency Resolution Process ('CIRP') of Asian Hotels (West) Limited ('Corporate Debtor') by 90 days from 15 March 2023 (expiry of 180 days from insolvency commencement date i.e. 16 September 2022), for completion of CIRP of the Company, under Section 12 of the Insolvency & Bankruptcy Code 2016 ("Code'). Accordingly, the Hon'ble NCLT vide its order dated 15 March 2023 has allowed the application to extend the timelines by 90 days. Thus, the timeline for completion of CIRP has been extended till 13 June 2023, pursuant to Section 12 of the Insolvency & Bankruptcy Code 2016. | |
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