# In the matter of Alpine Realtech Pvt. Ltd. I.A.-2954-2020 in (IB)-1221(ND)2018

> NCLT judgment dated 2020-08-21. Citation: TCN-2020-NCLT-00809. The case involves an application (I.A 2954/2020) seeking an extension of the Corporate…

- **Court:** NCLT
- **Order date:** 21 Aug 2020
- **Citation:** TCN-2020-NCLT-00809
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/alpine-realtech-pvt-ltd-ia-2954-2020-in-ib-1221nd2018-338bf5af

## Summary

### Background

The case involves an application (I.A 2954/2020) seeking an extension of the Corporate Insolvency Resolution Process (CIRP). The applicant, the Interim Resolution Professional (IRP), requested a 60-day extension due to the lockdown. An earlier extension of 50 days had already been granted. The maximum period of the CIRP of 330 days had expired on 04.02.2020.

## Facts

M/s. Punjab & Sind Bank filed an application under Section 7 of the IBC, 2016. The Interim Resolution Professional (IRP) applied for a 60-day extension of the CIRP due to the lockdown. The lockdown period was in effect from March 24th to May 31st, 2020, with restrictions continuing until June 2020. An earlier extension of 50 days had been granted. The maximum CIRP period of 330 days expired on February 4, 2020. The court considered these circumstances when deciding on the extension.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) should be extended due to the …

**Ratio:** The court has the discretion to extend the CIRP period, considering the specific facts

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**Reasoning:** The court acknowledged the impact of the lockdown on the CIRP, recognizing that the

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**Interpretation:** The interpretation of the IBC allows for flexibility in extending the CIRP

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**Application:** Given the lockdown's impact on the CIRP, the court applied its discretion to

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## Parties

- **Judges:** SHRI. CH. MOHD.…; Shri. L. N.…
- **Respondents:** M/s. Punjab &…

## Timeline

- **2020-02-04 — CIRP Period…**: The maximum period of the…
- **2020-02-18 — Previous Ex…**: An extension of 50 days…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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