# In the matter of Prathyusha Resources And Infra Private Limited

> NCLT judgment dated 2024-07-01. Citation: TCN-2024-NCLT-01096. The Liquidator filed an application seeking an extension of six months, from 2024-06-30 to…

- **Court:** NCLT
- **Order date:** 1 Jul 2024
- **Citation:** TCN-2024-NCLT-01096
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/prathyusha-resources-and-infra-private-limited-8de63b45

## Summary

### Background

The Liquidator filed an application seeking an extension of six months, from 2024-06-30 to 2024-12-31, for the continuation of the liquidation process of the Corporate Debtor.

## Facts

The Liquidator filed an application, IA(IBC)/211/2024, seeking a six-month extension for the liquidation process of the Corporate Debtor. The original liquidation period was set to expire, and the Liquidator required additional time to complete the process. The application was based on facts mentioned within it and submissions made by the Liquidator's counsel. The court considered these facts and submissions before making a decision.

## Issues and analysis

### Issue 1: Whether the extension of the liquidation period from 2024-06-30 to 2024-12-31 should be granted to …

**Ratio:** The court has the power to grant extensions for the liquidation process based on the

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**Reasoning:** The court considered the facts presented in the application and the submissions of the

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**Interpretation:** The interpretation of the relevant regulations allows for extensions to be

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**Application:** Given the facts presented by the Liquidator and the submissions of the counsel,

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** State Bank of…
- **Respondents:** Prathyusha…; Prathyusha…

## Timeline

- **2020-07-01 — CP(IB)/27/7/AMR/2020…**: The initial Corporate Insolvency Resolution Process (CIRP) application…
- **2024-06-30 — Liquidation Period…**: The Liquidator sought an extension of…

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