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NCLT orders relaxation in time to resolution applicant in view of Covid-19 pandemic

January 22, 2021[2021] 123 170 (NCLT - Ahd.)

IBC : Where resolution applicant sought for certain revision/modification/relaxation in Resolution Plan in respect of time frame for payment to financial creditors/operational creditors and/or other stakeholders, due to financial difficulties arising out of current pandemic situation of Covid-19 virus and consequent to going lockdown, claim of resolution applicant was genuine and bona fide and resolution applicant was allowed relaxation and concession sought for

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