# In the matter of Astonefield Solar (Gujarat) Pvt. Ltd. (IB)-940(ND)-2018

> NCLT judgment dated 2019-09-06. Citation: TCN-2019-NCLT-01527. The case involves a CA 1119/2019 filed under Section 60(5) by the Resolution Applicant seeking…

- **Court:** NCLT
- **Order date:** 6 Sept 2019
- **Citation:** TCN-2019-NCLT-01527
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/astonefield-solar-gujarat-pvt-ltd-ib-940nd-2018-b184f6ee

## Summary

### Background

The case involves a CA 1119/2019 filed under Section 60(5) by the Resolution Applicant seeking directions to the Resolution Professional (RP) to provide the information memorandum and to entertain the resolution plan. The Resolution Applicant states that the 270-day period, after excluding certain periods granted by the Bench, will expire on September 20, 2019.

## Facts

CA 1119/2019 was filed by the Resolution Applicant under Section 60(5) seeking directions to the RP to provide the information memorandum and entertain the resolution plan. The 270-day period for the resolution process was set to expire on September 20, 2019. The Resolution Applicant requested that their proposal be considered before the next COC meeting. The court noted that no plan had been approved yet and granted permission for the resolution process to consider the best deal. The COC date was to be communicated to the Resolution Applicant. The additional 90-day period commenced on August 16, 2019, and the 330 days expire around November 15, 2019.

## Issues and analysis

### Issue 1: Whether the Resolution Professional should be directed to provide the information memorandum to the …

**Ratio:** Section 60(5) of the IBC allows the NCLT to issue directions related to the resolution

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**Reasoning:** The court considered the Resolution Applicant's request for the information memorandum to

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**Interpretation:** Section 60(5) empowers the NCLT to ensure the smooth functioning of the

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**Application:** The court implicitly directed the RP to provide the information memorandum by

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## Parties

- **Judges:** Ina Mal…
- **Appellants:** Krishnendu…
- **Respondents:** Astonefield Solar…; Savar Ma…

## Timeline

- **2019-08-16 — Additional 90-day…**: The additional 90-day period…
- **2019-09-06 — Hearing…**: Hearing before the New Delhi Bench of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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