# In the matter of Snehdaxa Infrastructure Pvt. Ltd. & Ors. IA 500-2019 in C.P. (IB) No. 506-NCLT-AHM-2018

> NCLT judgment dated 2019-08-19. Citation: TCN-2019-NCLT-01938. The case involves an application filed by the respondent under Section 12(2) of the Insolvency…

- **Court:** NCLT
- **Order date:** 19 Aug 2019
- **Citation:** TCN-2019-NCLT-01938
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/snehdaxa-infrastructure-pvt-ltd-ors-ia-500-2019-in-cp-ib-no-506-nclt-ahm-2018-19dfcb7c

## Summary

### Background

The case involves an application filed by the respondent under Section 12(2) of the Insolvency and Bankruptcy Code seeking an extension of time. The 180-day period had expired on August 13, 2019, and the instant application was filed on August 6, 2019. The Committee of Creditors (CoC) had resolved on August 1, 2019, to extend the period by 90 days beyond the initial 180 days, as reflected in a board resolution with 100% voting share in favor of the extension.

## Facts

The respondent filed an application under Section 12(2) of the Insolvency and Bankruptcy Code seeking an extension of time. The initial 180-day period was set to expire on August 13, 2019, and the application was filed on August 6, 2019. A Board Resolution was passed on August 1, 2019, by the Committee of Creditors, resolving to extend the period by an additional 90 days beyond the initial 180 days. This resolution was supported by 100% of the voting share. The Adjudicating Authority considered the pleadings and documents presented by the Resolution Professional.

## Issues and analysis

### Issue 1: Whether sufficient grounds exist to grant an extension of time beyond the initial 180 days under …

**Ratio:** The legal principle applied is that an extension of time can be granted under Section

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**Reasoning:** The court reasoned that the Committee of Creditors had passed a resolution with 100%

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**Interpretation:** Section 12(2) of the Insolvency and Bankruptcy Code allows for an extension of

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**Application:** In this case, the court applied the ratio by considering the CoC's resolution

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Respondents:** Snehdaxa Infrastru…; Parag Sheth RP…

## Timeline

- **2019-08-01 — Board Reso…**: Committee of Creditors resolved to extend…
- **2019-08-06 — Application…**: Respondent filed application u/s 12(2) of Insolvency and Bankruptcy Code seeking…

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