# In the matter of Dexin Medi Solutions Pvt. Ltd. MA-423-2019 in CP-714-IB-2018

> NCLT judgment dated 2019-05-02. Citation: TCN-2019-NCLT-03541. The case involves an application filed under Section 12(2) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 2 May 2019
- **Citation:** TCN-2019-NCLT-03541
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dexin-medi-solutions-pvt-ltd-ma-423-2019-in-cp-714-ib-2018-138ec6ec

## Summary

### Background

The case involves an application filed under Section 12(2) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional. The application is based on a resolution passed by the Committee of Creditors (CoC) on April 12, 2019, with 95.82% voting rights, seeking an extension of 90 days for the Corporate Insolvency Resolution Process (CIRP) period.

## Facts

The Resolution Professional filed an application (MA/423/2019) in CP/714/IB/2018 under Section 12(2) of the Insolvency and Bankruptcy Code, 2016, seeking an extension of 90 days for the Corporate Insolvency Resolution Process (CIRP). The application was based on a resolution passed by the Committee of Creditors (CoC) on April 12, 2019, with 95.82% voting rights in favor of the extension. The court considered the application and the CoC's resolution.

## Issues and analysis

### Issue 1: Whether the application filed under Section 12(2) of the Insolvency and Bankruptcy Code, 2016, for …

**Ratio:** Section 12(2) of the Insolvency and Bankruptcy Code, 2016, allows for the extension of

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**Reasoning:** The court considered the application filed by the Resolution Professional, which was

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**Interpretation:** Section 12(2) provides a mechanism for extending the CIRP period when

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**Application:** In this case, the CoC approved the extension with a 95.82% majority. The court,

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** VASUDEVAN…
- **Respondents:** CASTELINE…; DEXIN MEDI…

## Timeline

- **2018-01-01 — CP/714/IB…**: Filing of the initial Corporate…
- **2019-04-12 — CoC Resol…**: The Committee of Creditors (CoC) passed a resolution with 95.82% voting rights, approving…

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