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

> NCLT judgment dated 2019-05-28. Citation: TCN-2019-NCLT-03173. 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-03173
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amira-pure-foods-pvt-ltd-ib-846nd2018-a726988a

## Summary

### Background

CA 682/2019 was filed by the Resolution Professional (RP) seeking an extension of the Corporate Insolvency Resolution (CIR) period. The initial 180-day period 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 Corporate Debtor's assets 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 period was expiring 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 DRAT. Possession of the assets has now been taken pursuant to directions from the High Court of Delhi. The Committee of Creditors (COC) is of the opinion that they would be able to process the expressions of interest. A resolution to extend the CIR period by 90 days was taken in a meeting on May 9, 2019. The said item appeared at Item No. 9 on the Agenda and is duly annexed with the affidavit of the RP. CA

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## Issues and analysis

### Issue 1: Whether the application for extension …

**Ratio:** The court has the power to grant an extension of the CIR period if it deems it necessary

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**Reasoning:** The court considered the submissions made by the RP, the progress of the resolution

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**Interpretation:** The legal issue revolves around the interpretation of the Insolvency and

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**Application:** The court applied the ratio to the specific facts of the case, noting that the

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## Parties

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

## Timeline

- **2019-05-09 — COC Meet…**: A resolution to seek extension of further 90 days has been taken in its meeting dated 9th…
- **2019-05-29 — Hearing…**: Attendance-cum-order sheet of the hearing before New Delhi Bench of the National Company…

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