# In the matter of A A Estates Pvt. Ltd.

> NCLT judgment dated 2024-07-29. Citation: TCN-2024-NCLT-00936. Ashdan Properties Privet Limited filed an Interlocutory Application (I.A. No. 1143 of 2024)…

- **Court:** NCLT
- **Order date:** 29 Jul 2024
- **Citation:** TCN-2024-NCLT-00936
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/a-a-estates-pvt-ltd-642f990b

## Summary

### Background

Ashdan Properties Privet Limited filed an Interlocutory Application (I.A. No. 1143 of 2024) seeking directions against Mr. Harshad Despande & ors, the Resolution Professional, under Section 60 (5) of the Insolvency & Bankruptcy Code, 2016. The applicant prays for the condonation of one-day's delay in submitting the resolution plan, with a further prayer that the Committee of Creditors be directed to consider his plan. The Applicant has further sought a stay on the consideration and voting of other resolution plans until this request was considered. The Corporate Debtor was admitted to CIRP on December 6, 2022, and Mr. Harshad Deshpande was appointed the Interim Resolution Professional. The first Expressions of Interest (EOI) was published on July 28, 2023, but

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## Facts

Ashdan Properties Privet Limited filed I.A. No. 1143 of 2024 seeking condonation of a one-day delay in submitting its resolution plan for A A Estates Private Limited, which was undergoing CIRP. The applicant claimed the delay was due to the Resolution Professional (RP) not providing crucial information in a timely manner, specifically the Technical Due Diligence Report. The applicant submitted its EOI and relevant documents on December 7, 2023, and was informed on December 12, 2023, that additional information was required, which they provided by December 15, 2023. The applicant was listed as a prospective resolution applicant (PRA) on December 16, 2023, and the final list of PRAs was published on December 30, 2023. The deadline for submission of the resolution plan

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## Issues and analysis

### Issue 1: Whether the delay of one day in submitting the …

**Ratio:** The timelines under the IBC are directory and not mandatory, especially in circumstances

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**Reasoning:** The Tribunal reasoned that the delay was caused by legitimate challenges in accessing

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**Interpretation:** The interpretation is that the strict adherence to timelines should not

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** Ashdan Properties…
- **Respondents:** A A Estates…; Harshad De…

## Timeline

- **2021-05-03 — Board Reso…**: The Authorized Representative of Ashdan Properties Private Limited was authorized to file…
- **2022-12-06 — CIRP Admi…**: The Corporate Debtor…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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