“Since the appeal has not been disposed of until Feb. 21, 2025, as per the instruction of the Supreme Court, the order passed by NCLAT regarding the stay on the CIRP of the Corporate Debtor stands vacated. Therefore, the CIRP of the Corporate Debtor recommences/resumes and the powers of the IRP are hereby reinstated with effect from Feb. 22, 2025,” it said.
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
