# In the matter of A to Z Barter Private Limited

> NCLT judgment dated 2024-03-12. Citation: TCN-2024-NCLT-02107. The case involves an application filed by the liquidator, Mr. Sanjay Garg, seeking an extension…

- **Court:** NCLT
- **Order date:** 12 Mar 2024
- **Citation:** TCN-2024-NCLT-02107
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/a-to-z-barter-private-limited-2cf662d5

## Summary

### Background

The case involves an application filed by the liquidator, Mr. Sanjay Garg, seeking an extension of the liquidation period for the Corporate Debtor, M/s. A to Z Barter Private Limited. The initial application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) was filed by the Operational Creditor, M/s. Inox Leisure Limited, and was admitted on 05.12.2018. Liquidation was ordered on 04.01.2021. The liquidator has faced non-cooperation from the suspended board of directors, hindering the preparation of the asset memorandum. Previous extensions were granted, but the liquidator sought further extensions to pursue legal actions against defaulting directors and complete the liquidation process.

## Facts

M/s. Inox Leisure Limited initiated insolvency proceedings against M/s. A to Z Barter Private Limited under Section 9 of the IBC, which were admitted on 05.12.2018, leading to a moratorium and the appointment of an Interim Resolution Professional. Subsequently, on 04.01.2021, the Adjudicating Authority ordered the liquidation of M/s. A to Z Barter Private Limited and appointed Mr. Sanjay Garg as the liquidator. An earlier exclusion of 49 days was granted on 07.01.2022, as the initial one-year period had expired on 22.02.2022. An Interlocutory Application (1828 of 2022) resulted in an extension of 180 days until 22nd August 2022. Further extension applications (4359 of 2022) were filed and allowed until 19th February 2023. The liquidator cited non-cooperation from the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority should grant an extension of the liquidation period for the …

**Ratio:** The ratio is based on the Adjudicating Authority's discretion to ensure the effective

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**Reasoning:** The court reasoned that the extension was justified due to the non-cooperation from the

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**Interpretation:** The interpretation involves the Adjudicating Authority's power to extend

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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:** ATUL CHAT…; BACHU VENKAT…
- **Appellants:** M/s. INOX LEISURE…
- **Respondents:** M/s. A TO Z…

## Timeline

- **2018-12-05 — Admission of Section 9…**: Application under Section 9 of IBC filed by M/s. Inox Leisure Limited against M/s. A to Z…
- **2021-01-04 — Liquidation…**: Adjudicating Authority passed an order allowing the Liquidation of the Corporate Debtor,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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