# In the of Inland Facilities Management  Private Limited  IA(IBC)-1078(CHE) of 2022 in CP-644-IB-CB-2017

> NCLT judgment dated 2022-11-15. Citation: TCN-2022-NCLT-00447. The application IA(IBC)/1078(CHE)/2022 was filed in CP/644/IB/CB/2017 under Section 60(5) of…

- **Court:** NCLT
- **Order date:** 15 Nov 2022
- **Citation:** TCN-2022-NCLT-00447
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/in-the-of-inland-facilities-management-private-limited-iaibc-1078che-of-2022-in-737690a1

## Summary

### Background

The application IA(IBC)/1078(CHE)/2022 was filed in CP/644/IB/CB/2017 under Section 60(5) of the Insolvency and Bankruptcy Code 2016, seeking an extension of the liquidation period for M/s. Inland Facilities Management Pvt. Ltd. The Tribunal had previously ordered the liquidation of the Corporate Debtor on 13.07.2018, and the Applicant was appointed as the Liquidator. The liquidation period was extended until 01.04.2022. The current application was filed on 30.09.2022, seeking a further extension of nine months until 01.01.2023.

## Facts

M/s. Inland Facilities Management Pvt. Ltd. is undergoing liquidation as per the order dated 13.07.2018. C Ramasubramaniam is the Liquidator. The initial liquidation period was extended till 01.04.2022. The Liquidator filed an application on 30.09.2022 seeking a further extension of nine months, until 01.01.2023. The application was filed after the initial extended liquidation period had already lapsed. The Liquidator could not provide a satisfactory explanation for the delay in filing the application. The Corporate Debtor does not own any assets to be liquidated. The Liquidator is handling 17 other assignments under the IBC. The Tribunal extended the liquidation period by 6 months despite the delay.

## Issues and analysis

### Issue 1: Whether the Tribunal should grant an extension of the liquidation period when the application for …

**Ratio:** The Tribunal has the power to extend the liquidation period under the Insolvency and

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**Reasoning:** The Tribunal noted that the Liquidator failed to provide a satisfactory explanation for

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**Interpretation:** The Tribunal's decision suggests that while a satisfactory explanation for the

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**Application:** In this case, the Tribunal extended the liquidation period despite the

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## Parties

- **Judges:** DEEPTI M…; SAMEER…
- **Appellants:** C. Ramasubr…
- **Respondents:** M/s. INLAND…; M/s. Sai Ma…
- **Advocates:** S. Sathiyanarayana…

## Timeline

- **2018-07-13 — Liquidation…**: Tribunal ordered liquidation of the…
- **2021-10-05 — Extension of Liquidation…**: Liquidation period of the Corporate Debtor was…

## 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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