# In the matter of A to Z Barter Private Limited

> NCLT judgment dated 2024-03-12. Citation: TCN-2024-NCLT-02081. The case involves an application (IA-1559/2023 and IA-5462/2023) filed by the liquidator, Mr.…

- **Court:** NCLT
- **Order date:** 12 Mar 2024
- **Citation:** TCN-2024-NCLT-02081
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/a-to-z-barter-private-limited-dcf9d252

## Summary

### Background

The case involves an application (IA-1559/2023 and IA-5462/2023) filed by the liquidator, Mr. Sanjay Garg, of the Corporate Debtor, M/s. A to Z Barter Private Limited, seeking an extension of the liquidation period and exclusion of certain days from the liquidation timeline. 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, against the Corporate Debtor. The application was admitted on 05.12.2018, and a moratorium was declared. Liquidation was allowed on 04.01.2021, and Mr. Sanjay Garg was appointed as the liquidator. The applicant seeks an extension of 180 days and exclusion of 149 days from the liquidation period due to non-cooperation from the suspended board of

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## Facts

M/s. Inox Leisure Limited, the Operational Creditor, initiated insolvency proceedings against M/s. A to Z Barter Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was admitted on 05.12.2018, leading to a moratorium and the appointment of Mr. Anoop Kumar Goyal as the Interim Resolution Professional. Subsequently, on 04.01.2021, the Adjudicating Authority ordered the liquidation of the Corporate Debtor and appointed Mr. Sanjay Garg as the liquidator. An earlier exclusion of 49 days was granted on 07.01.2022. The initial one-year liquidation period expired on 22.02.2022. The liquidator filed IA-1828/2022, seeking an extension of 180 days, which was granted until 22nd August 2022. Further extensions

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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 Adjudicating Authority has the power to grant extensions to the liquidation period

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**Reasoning:** The Adjudicating Authority considered the reasons provided by the liquidator, including

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**Interpretation:** The interpretation of the IBC allows for flexibility in the liquidation

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**Application:** In this case, the Adjudicating Authority applied the ratio by considering the

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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 Ap…**: 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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