# In the matter of Amira Pure Foods Pvt. Ltd. (IB)-846(ND)2018

> NCLT judgment dated 2019-05-28. Citation: TCN-2019-NCLT-03163. CA 682/2019 was filed by the Resolution Professional (RP) seeking an extension of the Corporate…

- **Court:** NCLT
- **Order date:** 28 May 2019
- **Citation:** TCN-2019-NCLT-03163
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amira-pure-foods-pvt-ltd-ib-846nd2018-959986c0

## Summary

### Background

CA 682/2019 was filed by the Resolution Professional (RP) seeking an extension of the Corporate Insolvency Resolution (CIR) period, which was set to expire on June 9, 2019. The resolution process was at the stage of considering expressions of interest. A difficulty arose because the assets of the Corporate Debtor had been attached under orders of the Debt Recovery Appellate Tribunal (DRAT). Possession of the assets has now been taken pursuant to directions from the High Court of Delhi. The Committee of Creditors (COC) believes they can process the expressions of interest. A resolution to extend the CIR period by 90 days was taken in a meeting on May 9, 2019.

## Facts

The Resolution Professional (RP) filed CA 682/2019 seeking an extension of the Corporate Insolvency Resolution (CIR) period. The initial 180-day CIR period was expiring on June 9, 2019. The resolution process was at the stage of considering expressions of interest. The assets of the Corporate Debtor were previously attached under orders of the DRAT, creating a difficulty in the CIR process. Possession of the assets was subsequently taken pursuant to directions from the High Court of Delhi. The Committee of Creditors (COC) expressed the opinion that they would be able to process the expressions of interest. A resolution to seek a 90-day extension was passed in a COC meeting on May 9, 2019. CA 683/2019 was filed as a status report.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution …

**Ratio:** The court has the power to extend the CIR period to facilitate the resolution process,

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**Reasoning:** The court considered the fact that the assets of the Corporate Debtor, which were

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**Interpretation:** The court interprets the Insolvency and Bankruptcy Code (IBC) to allow for

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**Application:** Given that the assets are now under possession and the COC is confident in

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Respondents:** M/s. Amira Pure…
- **Advocates:** Anurag…; Loke…

## Timeline

- **2019-05-09 — COC Meet…**: A resolution was passed in the COC meeting to seek an extension of the CIR period by 90…
- **2019-05-29 — Hearing…**: Hearing before the New Delhi Bench of…

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