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NATIONAL COMPANY LAW TRIBUNAL
Shammi Khan, Sanjeev Kumar Sharma, JJ
CMA Vijender Sharma – Appellant
Versus
Power Finance Corporation – Respondent
| Table of Content |
|---|
| 1. request for extension of cirp period. (Para 1) |
| 2. background on corporate debtor and cirp initiation. (Para 2 , 3 , 4) |
| 3. details of extensions granted during cirp. (Para 5 , 6 , 7 , 8 , 9 , 10) |
| 4. government support and meetings to revive the project. (Para 11 , 12 , 13 , 14) |
| 5. application for further extension of cirp. (Para 15 , 16 , 17) |
| 6. compliance with statutory requirements and prior judgments. (Para 18 , 19 , 20) |
| 7. legal provisions regarding extension of cirp. (Para 21 , 22 , 23) |
| 8. judicial discretion in extending time limits. (Para 24 , 25 , 26) |
| 9. criteria for extending cirp beyond statutory limits. (Para 27 , 28 , 29) |
| 10. assessment of coc's decision and urgency. (Para 30 , 31 , 32) |
| 11. denial of further extension due to lack of justification. (Para 33) |
| 12. conclusion and order for liquidation. (Para 34 , 35) |
ORDER
1. This application is filed on 13.05.2025 by the Resolution Professional (RP)- CMA Vijender Sharma, of the Corporate Debtor – Shree Maheshwar Hydel Power Corporation Limited under section 12(2), 60(5)(c) of the Insolvency and Bankruptcy Code, 2016 (Code) r.w. Rule 11 of NCLT Rules, 2016 with following prayers:
b. Pass any such further orders as may b
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