NATIONAL COMPANY LAW TRIBUNAL

COURT ROOM NO. 1

MUMBAI BENCH

Item No. 17

IA(I.B.C)/5488(MB)2025 IN C.P. (IB)/1055(MB)2017

CORAM:

SH. PRABHAT KUMAR SH. SUSHIL MAHADEORAO KOCHEY HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL)

ORDER SHEET OF THE HEARING ON 28.11.2025

NAME OF THE PARTIES: ROOFIT INDUSTRIES LTD Section 10 of the Insolvency and Bankruptcy Code, 2016

ORDER

IA(I.B.C)/5488(MB)2025

1. Adv. Aayush Kothari a/w Adv. Arpita Tiwari i/b Apex Law Partners for the

Applicant are present.

2. This is an Application filed by the Anshul Gupta, Liquidator of M/s Roofit

Industries Limited under Regulation 44(2) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The Applicant seeks following

relief:

a. Condone the delay in filing the present Interlocutory Application for

extension of the liquidation period;

b. To extend the period for completion of the liquidation of the Corporate

Debtor till 20^th October 2025; and

c. Any other reliefs that this Hon’ble Tribunal may deem fit and proper in this

matter.

3. Roofit Industries Limited (‘Corporate Debtor") was a sick company under the Sick

Industrial Companies (Special Provisions) Act, 1985 ("SICA"). Due to dismissal of

the Corporate Debtor's reference (number 473/2002 dated 16 October 2002) under SICA by Board for Industrial and Financial Reconstruction, an appeal (number 125/2010) was pending before Appellate Authority for Industrial and Financial Reconstruction under SICA. After repeal of SICA upon implementation of IBC, the Corporate Debtor came into jurisdiction of this Tribunal under section 252 of the Insolvency & Bankruptcy Code, 2016 ("IBC").

4. This Tribunal, pursuant to its order dated 28^th June 2017, commenced the corporate insolvency resolution process ("CIRP") of the Corporate Debtor under the IBC and thereafter, the Corporate Debtor was admitted into liquidation on 22.01.20218.

5. It is stated that, till date, seven out of nine properties have been sold and remaining two properties, i.e., Ratnagiri Property and Ernakulam properties are unsold.

6. It is further stated that IA 3807 of 2024 was allowed by this Tribunal extending the liquidation period till 20^th October 2024 vide its order dated 06^th August 2024.

7. One Interlocutory Application seeking extension of the liquidation period by one year from 21^st October 2024 to 20 October 2025 was filed by the erstwhile Liquidator in October 2024. However, the said filing was declined by the Registry due to non-compliance with the objections raised on the NCLT portal in March

2025 i.e. prior to the present Liquidator being appointed.

8. Thereafter, in June 2025. the change of Liquidator took place pursuant to the order dated 04.06.2025 appointing the applicant as liquidator. The Applicant thereafter initiated the process of retrieving and transferring the details of the said Interlocutory Application to his NCLT portal credentials in order to clear the objections and refile the same.

9. The transfer of details and access on the NCLT portal was completed in September

2025, whereupon it was discovered that the earlier Application had been treated as disposed of under Rule 63 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. Upon consultation, it was advised that a fresh Application be filed for seeking the extension of the liquidation period along with Condonation of Delay.

10. The delay in refiling the present Application has occurred solely due to administrative and procedural reasons, including the transaction of the Liquidator, retrieval and transfer of data on the NCLT portal, and compliance with portal-

related requirements.

11. The delay is neither deliberate nor intentional, but has occurred on account of bona fide and unavoidable circumstances beyond the control of the Applicant. The same deserves to be condoned in the interest of justice. It is therefore most respectfully prayed that this Tribunal may be pleased to condone the delay in filing the present Interlocutory Applicat