NATIONAL COMPANY LAW TRIBUNAL

MUMBAI BENCH COURT II

Item No. 26

IA 1244/2025, IA 2397/2023 & IA 2398/2023 in C.P. (IB)/1616(MB)2017

CORAM

SHRI SANJIV DUTT SHRI ASHISH KALIA

HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL)

ORDER SHEET OF HEARING(HYBRID) DATED 01.04.2025

NAME OF THE PARTIES: IA 1244/2025 Mr. Pravin R. Navandar

IA 2397/2023 Mr. Pravin R. Navandar RP of Unitech Transformers Pvt. Ltd.

IN THE MATTER OF

Vellurmadam Harish Gopalkrishnan

Vs.

Bharat Cooperative Bank

Appearance:

For Applicant : CS Devarajan Raman in IA 1244/2025 , 2397/2023

and IA 2398/2023

For Respondent : Adv. Neha Samji

IBC Under Section 7, 60(5), 43(1), 44(1), 66(1) Rule 11 of NCLT Rules

ORDER

IA 1244/2025,

1. This application has been filed by the Resolution Professional seeking

following reliefs: -

a. That the Hon’ble Tribunal may be pleased to condone the delay of 21 days

in filing the present IA;

b. That this Hon’ble Tribunal may be pleased to allow the present application and grant an extension of 45 days i.e. from 29^th January, 2024 to 14^th March 2025;

2. It is stated that Successful Resolution Applicant is in process of depositing Security Performance amount/Bank Guarantee as per Regulation 36B (4A) of CIRP Regulations. Therefore, the submission of IA seeking approval of the Resolution Plan will take some time. The applicant prays the Hon’ble Tribunal to invoke its inherent jurisdiction and extend the CIRP by 45 days.

3. It is submitted that In the 37^th CoC Meeting held on 27.01.2025, thØ Members of CoC decided to seek extension. However, the number of days for which the extension is to be sought was not decided. Thereafter, the majority of the CoC members approved the same and informed the applicant via mail dated 18.02.2025. therefore, it is submitted that the relief which is being sought in terms of the proviso to Section 12 of the Code will not extend the statutory period of CIRP beyond 330 days. Hence, considering the RP is submissions, time is extended as prayed for . IA No. 1244/2025 is disposed of accordingly.

IA2397/2023 IA2398/2023 Sd/- Sd/-

SANJIV DUTT ASHISH KALIA MEMBER (TECHNICAL) MEMBER (JUDICIAL)

Supriya