Jaiprakash Associate’s CoC Approves 90-Days Extension Of CIRP Process

Jaiprakash Associate’s CoC Approves 90-Days Extension Of CIRP Process

The resolution required 66.00 percent votes to be passed

With 92.69 percent of e-votes in its favor, the Committee of Creditors (CoC) of Jaiprakash Associate Ltd has approved a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) under Section 12(2) of the Insolvency and Bankruptcy Code (IBC) read with Regulation 40 of the CIRP Regulations.

The process began in June 2023 after the company was admitted by the National Company Law Tribunal (NCLT).

However, recently, the New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) upheld this decision.