# In the matter of Gammon India Limited CP(IB)-1939-(MB)-2018

> NCLT judgment dated 2019-04-08. Citation: TCN-2019-NCLT-04074. The case pertains to an insolvency resolution process before the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 8 Apr 2019
- **Citation:** TCN-2019-NCLT-04074
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/gammon-india-limited-cpib-1939-mb-2018-5a5119bd

## Summary

### Background

The case pertains to an insolvency resolution process before the National Company Law Tribunal (NCLT), Mumbai Bench. The matter involves Union Bank of India as the petitioner and Gammon India Limited as the corporate debtor. The hearing was held on April 8, 2019.

## Facts

Union Bank of India initiated an insolvency proceeding against Gammon India Limited. An affidavit was submitted on January 28, 2019, following observations from February 28, 2019. The Petitioner Bank presented proposals to the consortium. The Petitioner Bank's counsel indicated that the proposal is under consideration. The NCLT considered it appropriate to grant the bank time to consider the proposals and record the consortium's decision in writing.

## Issues and analysis

### Issue 1: Whether to grant the Petitioner Bank additional time to consider the proposals and submit the …

**Ratio:** The tribunal has the discretion to grant time to parties to facilitate the insolvency

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**Reasoning:** The tribunal reasoned that granting time to the bank to consider the proposals and place

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**Interpretation:** This reflects the tribunal's approach to facilitate the resolution process by

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**Application:** Given that the Petitioner Bank's proposal was under consideration and the

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Union Bank of…
- **Respondents:** Gammon India…

## Timeline

- **2019-01-28 — Affidavit Sub…**: An affidavit was…
- **2019-02-28 — Observation…**: Observations were made…

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