# In the matter of Scope Properties Pvt. Ltd. MA0-1033-2019 in CP-1055-IB-2018

> NCLT judgment dated 2019-10-01. Citation: TCN-2019-NCLT-01128. The Resolution Professional filed an application seeking an extension of 45 days to the CIRP…

- **Court:** NCLT
- **Order date:** 1 Oct 2019
- **Citation:** TCN-2019-NCLT-01128
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/scope-properties-pvt-ltd-ma0-1033-2019-in-cp-1055-ib-2018-6dd51b0c

## Summary

### Background

The Resolution Professional filed an application seeking an extension of 45 days to the CIRP period, in addition to the initial 180 days. This request was based on a resolution passed by the Committee of Creditors (CoC) on September 18, 2019.

## Facts

The Resolution Professional (Suresh Kannan) filed an application (MA/1033/2019) in CP/1055/IB/2018 seeking an extension of 45 days to the Corporate Insolvency Resolution Process (CIRP) period. The application was based on a resolution passed by the Committee of Creditors (CoC) on September 18, 2019. The extension was sought under Section 12(2)&(3) of the Insolvency & Bankruptcy Code. The initial CIRP period was 180 days. The NCLT allowed the application, extending the CIRP period by 45 days, effective from September 24, 2019.

## Issues and analysis

### Issue 1: Whether the application filed by the Resolution Professional for an extension of the CIRP period …

**Ratio:** Section 12(2)&(3) of the Insolvency & Bankruptcy Code allows for the extension of

…

**Reasoning:** The court reasoned that the CoC had passed a resolution on September 18, 2019, seeking an

…

**Interpretation:** Section 12(2)&(3) of the IBC is interpreted to mean that an extension of

…

**Application:** In this case, the CoC had already passed a resolution seeking the extension.

…

## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Respondents:** SCOPE PROPERTIES…

## Timeline

- **2018-01-01 — CP/1055/IB/20…**: Corporate Insolvency…
- **2019-09-18 — CoC Resol…**: Committee of Creditors passed a resolution seeking an extension of 45 days to the CIRP…

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