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IN THE NATIONAL COMPANY LAW TRIBUNAL

SPECIAL BENCH (COURT– I) CHENNAI

ATTENDANCE CUM ORDER SHEET OF THE HEARING

HELD ON 16.04.2025 THROUGH VIDEO CONFERENCE

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PRESENT: JUSTICE RAMALINGAM SUDHAKAR, HON'BLE PRESIDENT

HON'BLE SHRI VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)

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IN THE MATTER OF : Corporation Bank( Mid Corporate Branch)

Vs

SLO Industries Ltd

MAIN PETITION NUMBER : CP/1264/IB/2018

(IA/MA) APPLICATION NUMBERS

IA(LIQ)PROGRESS REPORT/174(CHE)/2025; IA(IBC)/526(CHE)/2025

IA(IBC)/543(CHE)/2025; IA/478/CHE/2021; IA/1010(CHE)/2022

IA/1234(CHE)/2024; IA(IBC)/1765(CHE)2024; IA(IBC)/165(CHE)/2025

IA(IBC)/167(CHE)/2025; IA(IBC)/286(CHE)2025; IA/IBC/334(CHE)/2025

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ORDER

Present: Mr. Anil Kumar Ojha, party in person.

Mr. Pawan Jhabakh, Ld. Counsel for present Liquidator.

Mr. S.Sathiyanarayanan, Ld. Counsel for erstwhile RP.

Mr. Varun Srinivasan, Ld. Counsel for erstwhile Liquidator.

IA(LIQ)PROGRESS REPORT/174(CHE)/2025:

Heard.

1. Mr. Anil Kumar Ojha stated that the erstwhile Liquidator and present

Liquidator have not obeyed the Orders of the Tribunal dated 13.06.2023. He has filed complaint against the erstwhile RP, erstwhile Liquidator, etc., before the IBBI

for their misdeeds.

2. We direct the Liquidator to show some serious progress in the liquidation

proceedings and mere filing of the Progress Report will be of no help. Directions issued from time to time by this Tribunal, more particularly the Order dated

13.06.2023 should be complied with and report filed in the next Progress Report.

3. in view of the above, the Application IA(LIQ)PROGRESS REPORT/174(CHE)/2025 is not accepted and the same is rejected. Let the Liquidator file a proper Progress Report as per today’s Order.

IA(IBC)/543(CHE)/2025:

1. This application has been filed seeking the following reliefs: - i.. to condone the delay of 16 Days (1^st March 2025 to 17^th March 2026) in filing the application for extension of the liquidation period for further one year.

ii) This Hon'ble tribunal may be pleased to grant an extension of time to continue the Liquidation Process which ends on 28^th February 2025 for further period of 1 Year from 1^st March

2025 to 28^th February 2026 (3^rd Extension);

iii. This Tribunal may be pleased to pass such further or other reliefs as this Hon'ble Tribunal may deem fit and proper in the circumstances of this case.

2. In view of the reasons stated in the Application, delay is condoned and the period of liquidation is extended till 28.02.2026.

3. IA(IBC)/543(CHE)/2025 is disposed of.

IA(IBC)/165(CHE)/2025; IA(IBC)/167(CHE)/2025 IA(IBC)/286(CHE)2025; IA/IBC/334(CHE)/2025

1. Ld. Counsel(s) for Respondent(s) seeks and is granted time to file reply.

2. Applicant seeks and is granted time to file rejoinder, if any.

3. List these Applications along with IA(IBC)/526(CHE)/2025; IA/478/CHE/2021;

IA/1010(CHE)/2022; IA/1234(CHE)/2024; IA(IBC)/1765(CHE)2024 for hearing on

03.06.2025.

-sd- -sd-

[VENKATARAMAN SUBRAMANIAM] [JUSTICE RAMALINGAM SUDHAKAR]

MEMBER (TECHNICAL) (PRESIDENT)

MS Date: 16.04.2025