ORDER

IA.No.577/2024: - Adv. Sandeep Bajaj appeared for the Applicant/Liquidator through VC. This IA has been filed by the liquidator seeking extension of liquidation period by one year from 04.03.2024 to 03.03.2025 to complete the liquidation process. It has been pointed out by the counsel for the Liquidator/Applicant that all the assets of the Corporate Debtor have been sold and distribution has also been carried out but some litigation is pending which will take some time to conclude. The details of the said pending litigation have also been given in the application. It has also been stated by the counsel for the Liquidator that an attempt is also being made to assign the recovery involved in the said litigations but that has not been possible so far.

Taking into account the grounds mentioned in the application and the fact that the pending litigations if successfully pursued would yield recovery of about Rs. 400 Cores, this Bench deems it fit and proper to grant one-year extension from 04.03.2024 to 03.03.2025. Accordingly, IA.No.577/2024 is allowed and disposed of in aforesaid terms.

IA.No.678/2020 & IA.No.2152/2021: - Adv. Sandeep Bajaj appeared for the Liquidator through VC. No