# In the matter of Solar Offset Printers Private Limited

> NCLT judgment dated 2024-08-30. Citation: TCN-2024-NCLT-00721. The case involves an application filed by the Liquidator of M/s. Solar Offset Printers Private…

- **Court:** NCLT
- **Order date:** 30 Aug 2024
- **Citation:** TCN-2024-NCLT-00721
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/solar-offset-printers-private-limited-19d0b46d

## Summary

### Background

The case involves an application filed by the Liquidator of M/s. Solar Offset Printers Private Limited seeking an extension of the liquidation period by 6 months (180 days) from 30.08.2024 to 25.02.2025. The Liquidator's counsel submitted that a successful bidder at an e-auction dated 26.02.2024 filed a Writ Petition before the Hon'ble High Court of Kerala, challenging the withdrawal of the letter of intent and cancellation of the sale. The Liquidator is a respondent in the Writ Petition. The counsel argued that the extension is necessary because the Writ Petition is pending before the High Court, and the liquidation process needs to be completed.

## Facts

M/s. Solar Offset Printers Private Limited is undergoing liquidation. The Liquidator filed an application seeking a 6-month extension of the liquidation period, from 30.08.2024 to 25.02.2025. A successful bidder from an e-auction dated 26.02.2024 filed a Writ Petition (No. 21631/2024) before the Hon'ble High Court of Kerala, challenging the withdrawal of the letter of intent and cancellation of the sale. The Liquidator is the 2nd respondent in the Writ Petition. The 19th SCC meeting held on 30.07.2024 unanimously approved the resolution to extend the Liquidation Period. The liquidation order was issued on 31.05.2023. More than one year has been completed since the liquidation order was issued.

## Issues and analysis

### Issue 1: Whether the extension of the liquidation period for M/s. Solar Offset Printers Private Limited …

**Ratio:** The NCLT has the power to grant an extension of the liquidation period if it is satisfied

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**Reasoning:** The NCLT considered the submissions of the Liquidator's counsel, the pending Writ

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**Interpretation:** The interpretation is that the NCLT has the discretion to grant extensions to

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where a

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## Parties

- **Judges:** ARVIND DEVA…; TMT. T.KRISHNA…
- **Appellants:** PADMAKUMAR K C…
- **Respondents:** SOLAR OFFSET…

## Timeline

- **2023-05-31 — Liquidation Ord…**: The liquidation order for M/s. Solar Offset…
- **2024-02-26 — E-Auction…**: An e-auction was held, and a…

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