DIVISION BENCH ITEM NO.116 NATIONAL COMPANY LAW TRIBUNAL

ALLAHABAD BENCH

PRAYAGRAJ

IA No.134/2025, IA No.260/2025, IA No.261/2025, IA No.423/2025, IA No.

427/2025, IA No.430/2025, IA No.504/2025, IA No.505/2025, IA No.

525/2025, IA No.526/2025, IA No.527/2025, IA No.739/2025, IA

No.824(ALD)2025, IA No.814(ALD)2025 & IA No.828(ALD)2025

IN CP (IB) No.32/ALD/2024

CORAM:

1. SH. PRAVEEN GUPTA,

HON’BLE MEMBER (JUDICIAL)

2. SH. ASHISH VERMA,

HON’BLE MEMBER (TECHNICAL)

Date of Order: 8^th December, 2025

Attendance-Cum-Order Sheet of the Hearing.

NAME OF THE COMPANY SMALL INDUSTRIES

DEVELOPMENT BANK OF INDIA V/S HI TECH FERROUS & NON FERROUS INDIA PRIVATE

LIMITED

UNDER SECTION 7 IBC (IN CIRP)

COUNSEL APPEARED THROUGH PHYSICAL/ VIRTUAL HEARING: Ms. Pinki, Adv. : For the Applicant/ RP in all IAs (except in IA

No.430/2025)

Sh. Sumit Shukla, Ad. : For the Ex-Management

Sh. Rahul Ranjan, Adv. : For the Res. in IA No.526/2025

Sh. Honey Satpal, Adv. : For the RP

ORDER

IA No.828(ALD) 2025

1. This application has been filed for seeking an extension in completion of the

CIRP for a period of 90 days commencing from 20^th November, 2025 till 17^th

2. Ld. Counsel representing the applicant/RP submits that the previous

extension in completion of the CIRP has expired on 19^th November, 2025, as per the extension already granted by this Adjudicating Authority in terms of

an order dated 30^th September, 2025 passed in IA No.653/2025.

taken note of the process started for approval of the Resolution Plan and based upon the Resolution plan submitted by the prospective resolution applicant.

4. Ld. Counsel representing the RP refers to the minutes of the CoC meeting held on 19^th November, 2025 i.e. on the last date of expiry of CIRP period where the plan is being legally vetted by the RP to ensure compliances with the several provisions of the Code.

5. We therefore, submits that in view of the process involved in formal approval of the Resolution Plan, the extension in the completion of the CIRP has become necessary from 20^th November, 2025 onward.

6. During the course of arguments, Ld. Counsel representing the applicant/RP also submits that at this point of time, she would be praying only for an extension for a period of 60 days instead of 90 days commencing from 20^th November, 2025.

7. In view of the averments made in the application as well as the submissions made by the Ld. Counsel representing the applicant/RP and in view of the fact that the Resolution Plan submitted by the Resolution Applicant is under active consideration of the CoC, therefore we deem it appropriate to grant an extension for a period of 60 days, as prayed for. The 60 days period therefore would commence from 20^th November, 2025.

8. In view of this an extension of 60 days is granted commencing from 20^th November, 2025.

9. Ld. Counsel representing the applicant also submits that this application for seeking extension was filed on 20^th November, 2025, therefore, an exclusion also may be granted from the date of filing of the application i.e. 20^th November, 2025 till the disposal of the present application i.e. today 8^th will be expedited in accordance with the provisions of the Code to complete the CIRP in the given time frame.

11. Accordingly, IA No.828(ALD) 2025 is allowed in the aforesaid terms.

IA No.814(ALD)2025

1. This application has been filed on behalf of the applicant/RP for placing on record the 4^th Progress Report. The same is taken on record, subject to just exceptions.

2. Accordingly, IA No.814 (ALD)2025 stands disposed of.

IA No.739/2025

1. This application has been filed on behalf of the applicant/RP for placing on record the updated list of the creditors.

2. Ld. Counsel representing the applicant/RP states that some Operational Creditors have also since then filed their claims which are admitted and therefore this list of the creditors has accordingly been updated.

3. Let the same be taken on record, subject to justice exceptions.

4. Accordingly, IA No.739/2025 stands disposed off.

5. All other applications be adjourn