# In the matter of Samson and Sons Builders and Developers Pvt. Ltd. IA (IBC)-157-KOB-2023 in CP (IB)-5-KOB-2021

> NCLT judgment dated 2023-04-26. Citation: TCN-2023-NCLT-03629. The case involves an application filed by the Resolution Professional seeking a 90-day…

- **Court:** NCLT
- **Order date:** 26 Apr 2023
- **Citation:** TCN-2023-NCLT-03629
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/samson-and-sons-builders-and-developers-pvt-ltd-ia-ibc-157-kob-2023-in-cp-ib-5-k-4c6d78e2

## Summary

### Background

The case involves an application filed by the Resolution Professional seeking a 90-day extension to complete the resolution process for Samson and Sons Builders and Developers Pvt. Ltd., which commenced on 2021-11-03. The corporate debtor was admitted into CIRP on the same date. The resolution process had already been extended multiple times, and a time exclusion was previously ordered. Despite receiving six project plans, no single plan has been approved by the Committee of Creditors (CoC). Landowners of two projects have applied to exclude their lands from the corporate debtor's assets. The Adjudicating Authority directed meetings with prospective applicants and landowners, but the landowners were not convinced by the proposed plans. The landowners alleged that home

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## Facts

The Resolution Professional filed an application seeking a 90-day extension to complete the resolution process for Samson and Sons Builders and Developers Pvt. Ltd. The CIRP commenced on 2021-11-03, and the corporate debtor was admitted into CIRP on the same date. Mr. Mohammed Davood was initially appointed as interim resolution professional and was later replaced by Mr. Lukose Joseph. Mr. K. Parameswaran Nair was appointed as Resolution Professional on 2022-03-16. The resolution period had already been extended multiple times, with 139 days excluded by order dated 2022-07-01, 90 days extended from 2022-09-18 to 2022-12-17, and 60 days extended from 2022-12-22 to 2023-02-15. Six project plans were received, but none were approved by the CoC. Landowners of two projects

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can grant a further extension of 90 days to complete the …

**Ratio:** The maximum time period prescribed under Section 12 of the IBC is 330 days, including

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**Reasoning:** The Adjudicating Authority noted that the resolution process had already been extended

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**Interpretation:** Section 12 of the IBC sets a strict timeline for the completion of the

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**Application:** In this case, the resolution process had already exceeded the maximum period of

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## Parties

- **Judges:** P. Moha…; Satya Ranjan…
- **Appellants:** K. Parameswaran…
- **Respondents:** Samson and Sons…; Vijayakuma…

## Timeline

- **2021-11-03 — Commencement…**: Corporate debtor Samson and…
- **2022-03-16 — Appointment of…**: Mr. K. Parameswaran Nair was…

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