# In the matter of Neo Aid Communication (India) Private Limited TA No. 152-2018 in IB No. 715-ND-2018

> NCLT judgment dated 2019-01-24. Citation: TCN-2019-NCLT-05181. The case involves an application by the Operational Creditor, M/s Alert Security And Allied…

- **Court:** NCLT
- **Order date:** 24 Jan 2019
- **Citation:** TCN-2019-NCLT-05181
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/neo-aid-communication-india-private-limited-ta-no-152-2018-in-ib-no-715-nd-2018-5985655c

## Summary

### Background

The case involves an application by the Operational Creditor, M/s Alert Security And Allied Services, against the Corporate Debtor, M/s Neo Aid Communication (India) Private Limited, for initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Tribunal admitted the insolvency petition on 2018-07-09 and appointed Mr. Mahender Prakash Khandelwal as Interim Resolution Professional (IRP). The CoC meetings were held, and financial creditors submitted their claims. The CoC decided to seek an extension of the CIRP period under Section 12 of IBC, 2016, due to the transfer of files from NCLT, New Delhi to NCLT, Jaipur Bench.

## Facts

M/s Alert Security And Allied Services filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Neo Aid Communication (India) Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) due to non-payment of dues. The NCLT admitted the application on 2018-07-09 and appointed an Interim Resolution Professional (IRP). Several meetings of the Committee of Creditors (CoC) were held, during which financial creditors submitted their claims. The CoC sought an extension of the CIRP period, citing delays due to the transfer of case files from NCLT New Delhi to NCLT Jaipur. However, the CoC members, primarily financial creditors, expressed their inability to arrange for additional funds. The RP

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## Issues and analysis

### Issue 1: Whether the extension of the CIRP period should be granted based on the transfer of files from one …

**Ratio:** The transfer of files from one bench to another is not a material reason to extend the

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**Reasoning:** The Tribunal reasoned that the delay caused by the transfer of files was not a sufficient

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**Interpretation:** Section 12 of the IBC allows for extensions of the CIRP period under certain

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**Application:** The Tribunal applied the ratio to the fact that the transfer of files did not

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## Parties

- **Judges:** R. VARADH…
- **Appellants:** M/s Alert…
- **Respondents:** M/s Neo Aid…

## Timeline

- **2018-07-09 — Insolvency Petition…**: The Tribunal admitted the insolvency…
- **2018-08-12 — First CoC M…**: The first meeting of the Committee of Creditors (CoC) was held, and the appointment of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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