# In the matter of Maxim Infrastructure & Real Estate Ltd. I.A. No.43-2019 in C.P.(IB) 04-GB-2018

> NCLT judgment dated 2019-07-30. Citation: TCN-2019-NCLT-02219. The case involves an application under Section 7 of the Insolvency & Bankruptcy Code, 2016.…

- **Court:** NCLT
- **Order date:** 30 Jul 2019
- **Citation:** TCN-2019-NCLT-02219
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/maxim-infrastructure-real-estate-ltd-ia-no43-2019-in-cpib-04-gb-2018-ed8f1cd9

## Summary

### Background

The case involves an application under Section 7 of the Insolvency & Bankruptcy Code, 2016. Bank of India is the Financial Creditor, and M/s Maxim Infrastructure & Real Estate Ltd. is the Corporate Debtor. H.M. Cements Pvt. Ltd. is the Resolution Applicant. The Resolution Professional (RP) requested time for making submissions.

## Facts

Bank of India initiated insolvency proceedings against M/s Maxim Infrastructure & Real Estate Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. H.M. Cements Pvt. Ltd. is the Resolution Applicant. The Resolution Professional requested additional time to submit the learned RP. The applicant was submitting a revised resolution plan. The court considered the request and directed the RP to take the revised resolution plan on record.

## Issues and analysis

### Issue 1: Whether the Resolution Professional should be …

**Ratio:** The court has the discretion to grant or deny requests for extensions of time based on

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**Reasoning:** The court considered the request from the Resolution Professional for additional time to

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**Interpretation:** This issue involves the court's procedural authority to manage the timeline of

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**Application:** The court granted the implicit request by directing the RP to take the revised

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## Parties

- **Judges:** Venkata Sub…; Ashutosh C…
- **Appellants:** Bank of…
- **Respondents:** M/s Maxim…
- **Advocates:** Rajarshi Ba…; R. Du…; +1 more

## Timeline

- **2019-07-30 — Order Da…**: Order issued directing the RP to take…
- **2019-08-05 — RP Submission…**: Original deadline for the Resolution…

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