# In the matter of Pioneer Gas Power Limited

> NCLT judgment dated 2024-12-18. Citation: TCN-2024-NCLT-00031. The document pertains to an application (IA (IBC)/2439/2024) filed in a Company Petition…

- **Court:** NCLT
- **Order date:** 18 Dec 2024
- **Citation:** TCN-2024-NCLT-00031
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/pioneer-gas-power-limited-e3b8d05d

## Summary

### Background

The document pertains to an application (IA (IBC)/2439/2024) filed in a Company Petition (IB/164/7/2021) before the National Company Law Tribunal (NCLT), Hyderabad Bench. The hearing was conducted in VC and Physical (Hybrid) Mode. The application seeks an extension of the Corporate Insolvency Resolution Process (CIRP) period.

## Facts

The key facts are as follows: An application, IA (IBC)/2439/2024, was filed in Company Petition IB/164/7/2021. The application was for extending the CIRP period by 90 days, from 14.12.2024 to 13.03.2025. The NCLT Hyderabad Bench considered the submissions made in the application. The court extended the CIRP period as requested. Mr. Patula Ramesh Babu, Ld. Counsel, appeared for the Petitioner. Mr. Ramanjaneyulu Gandluri is the Resolution Professional.

## Issues and analysis

### Issue 1: Whether the extension of the CIRP period by 90 days, from 14.12.2024 to 13.03.2025, should be …

**Ratio:** The legal principle applied is the court's discretion to extend the CIRP period based on

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**Reasoning:** The court reasoned that, based on the submissions made in the application, the extension

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**Interpretation:** The interpretation involves understanding the provisions of the Insolvency and

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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:** SHRI. RAJEEV…; SHRI. SANJA…
- **Appellants:** IFCI…
- **Respondents:** Pioneer Gas Power…

## Timeline

- **2024-12-14 — CIRP Extension Start…**: The Corporate Insolvency Resolution Process…
- **2025-03-13 — CIRP Extension…**: The Corporate Insolvency Resolution Process…

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