# In the matter of Smt. K. Bharathi Vs. Kotak Mahindra Bank CA(AT)(Insovlency)114 & 115-2019

> NCLAT judgment dated 2019-02-05. Citation: TCN-2019-NCLAT-00796. The appellant, Smt. K. Bharathi, claiming to be a 'Financial Creditor', is aggrieved by the…

- **Court:** NCLAT
- **Order date:** 5 Feb 2019
- **Citation:** TCN-2019-NCLAT-00796
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/smt-k-bharathi-vs-kotak-mahindra-bank-ca-aca64e4f

## Summary

### Background

The appellant, Smt. K. Bharathi, claiming to be a 'Financial Creditor', is aggrieved by the order of the Adjudicating Authority (National Company Law Tribunal), Division Bench, Chennai, dated January 21, 2019, which extended the 'Corporate Insolvency Resolution Process' period by 90 days, effective from December 20, 2018. This extension included a direction to the 'Resolution Professional' to hold 'Committee of Creditors' meetings in accordance with orders dated December 18 and 19, 2018.

## Facts

Smt. K. Bharathi, claiming to be a 'Financial Creditor', filed an appeal against the order of the Adjudicating Authority (National Company Law Tribunal), Division Bench, Chennai, dated January 21, 2019. The order extended the 'Corporate Insolvency Resolution Process' period by 90 days, effective from December 20, 2018, and directed the 'Resolution Professional' to hold 'Committee of Creditors' meetings in accordance with orders dated December 18 and 19, 2018. The appellant argued that the extension was prejudicial to her interests. The court noted that the extension was to comply with earlier directions and that the CoC's decisions were subject to the Appellate Tribunal's review.

## Issues and analysis

### Issue 1: Whether the extension of the Corporate Insolvency Resolution Process period by the Adjudicating …

**Ratio:** The extension of the CIRP period is justified if it is done to comply with earlier

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**Reasoning:** The court reasoned that the extension was granted to comply with the directions given in

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**Interpretation:** The interpretation is that the Adjudicating Authority has the power to extend

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**Application:** The court applied this principle to the facts by noting that the extension was

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## Parties

- **Judges:** Bansi Lal…
- **Appellants:** K. Bhar…
- **Respondents:** Kotak Mahindra…

## Timeline

- **2018-12-18 — Orders by Adjudicating…**: Adjudicating Authority issued orders related to the Corporate Insolvency Resolution…
- **2018-12-19 — Orders by Adjudicating…**: Adjudicating Authority issued orders related to the Corporate Insolvency Resolution…

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