# In the matter of GGS Infrastructure Pvt. Ltd. MA 1183-2019 in C.P. (IB)1340-MB-2017

> NCLT judgment dated 2019-05-08. Citation: TCN-2019-NCLT-03377. The case pertains to MA 1183/2019 filed in C.P.(IB)-1340/MB/2017 under Section 60(5) of the…

- **Court:** NCLT
- **Order date:** 8 May 2019
- **Citation:** TCN-2019-NCLT-03377
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ggs-infrastructure-pvt-ltd-ma-1183-2019-in-cp-ib1340-mb-2017-94adbc06

## Summary

### Background

The case pertains to MA 1183/2019 filed in C.P.(IB)-1340/MB/2017 under Section 60(5) of the Insolvency & Bankruptcy Code, 2016. The application was filed by Mr. Naren Sheth, the Resolution Professional, seeking exclusion of 245 days from the CIRP period. An order was passed on 04.10.2017 admitting the petition of Mr. Sanjay Talashi Mamaniya, the Financial Creditor, against GGS Infrastructure Private Limited, the Corporate Debtor. An interim order dated 02.04.2018 granted a 90-day extension under Section 12(3) of the Code. There were delays in the resolution process, including revisions to the Resolution Plan and a substitution of the Resolution Professional.

## Facts

Mr. Sanjay Talashi Mamaniya, a Financial Creditor, initiated a corporate insolvency resolution process (CIRP) against GGS Infrastructure Private Limited. The petition was admitted on 04.10.2017. Mr. Naren Sheth was later appointed as the Resolution Professional (RP). Due to delays in the process, including revisions to the Resolution Plan and a substitution of the RP, an application (MA 1183/2019) was filed seeking the exclusion of 245 days from the CIRP period. The delays were attributed to factors such as the CoC's need for time to consider the revised Resolution Plan and the substitution of the RP following an order by the Disciplinary Committee of IBBI. The RP argued that these delays were beyond their control and warranted exclusion from the CIRP timeline to

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## Issues and analysis

### Issue 1: Whether the period of 245 days should be excluded from the CIRP timeline due to delays in the …

**Ratio:** The ratio is based on the principle that if delays in the CIRP process are caused by

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**Reasoning:** The court reasoned that substantial time was lost due to discussions on the Resolution

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**Interpretation:** This interprets Section 60(5) of the IBC to allow for exclusion of time in CIRP

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

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Naren S…
- **Respondents:** GGS Infrastructure…; GGS Infrastructure…
- **Advocates:** Kumar Anura…; Anando Muk…; +4 more

## Timeline

- **2017-10-04 — Original…**: Order passed admitting the petition of Mr. Sanjay Talashi Mamaniya against GGS…
- **2018-04-02 — Interim…**: 90 days extension granted…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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