# In the matter of Landmark Housing Projects Chennai Private Limited

> NCLT judgment dated 2025-04-16. Citation: TCN-2025-NCLT-00212. The case involves multiple applications (IAs) filed in relation to the Corporate Insolvency…

- **Court:** NCLT
- **Order date:** 16 Apr 2025
- **Citation:** TCN-2025-NCLT-00212
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/landmark-housing-projects-chennai-private-limited-3acb4ea0

## Summary

### Background

The case involves multiple applications (IAs) filed in relation to the Corporate Insolvency Resolution Process (CIRP) of Land Mark Housing Projects Chennai Pvt Ltd. The applications were filed by unsecured financial creditors seeking liquidation, and also by secured/unsecured creditors and landowners seeking intervention. The primary application under consideration is IA(IBC)/34/(CHE)2025, seeking an extension of the resolution plan execution period.

## Facts

Land Mark Housing Projects Chennai Pvt Ltd is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. Several applications (IAs) were filed in connection with the CIRP, including IA(IBC)/34/(CHE)2025, which sought an extension of the resolution plan execution period until 26.06.2025. The monitoring committee had recommended a 3-month extension, but this period lapsed on 26.03.2025. Unsecured financial creditors filed applications seeking liquidation of the Corporate Debtor. Other applications were filed by secured/unsecured creditors and landowners seeking intervention in IA/34/2025. An application was filed seeking direction to the resolution applicant to settle an admitted amount of Rs.39,28,21,071/- to the

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## Issues and analysis

### Issue 1: Whether the extension of the resolution …

**Ratio:** The Adjudicating Authority has the discretion to grant or deny an extension of the

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**Reasoning:** The tribunal considered the monitoring committee's recommendation for a 3-month

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**Interpretation:** The decision interprets the provisions of the IBC, 2016, regarding the

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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:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** Pawan Th…
- **Respondents:** Land Mark Housing…

## Timeline

- **2025-04-16 — Hearing…**: Hearing held on 16.04.2025 at 10.30…
- **2025-04-07 — Tribunal H…**: During the hearing dated 07.04.2025, the Tribunal sought certain clarification and the…

## 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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