# In the matter of Solar Offset Printers Private Limited

> NCLT judgment dated 2024-08-30. Citation: TCN-2024-NCLT-00729. 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-00729
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/solar-offset-printers-private-limited-a6c31eda

## 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. The Liquidator's counsel submitted that a successful bidder at an e-auction filed a Writ Petition before the 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 pending Writ Petition necessitates an extension of the liquidation period to complete the process. The 19th SCC meeting approved the resolution to extend the Liquidation Period.

## 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 at the e-auction dated 26.02.2024 filed Writ Petition No. 21631/2024 before the 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.

## Issues and analysis

### Issue 1: Whether the liquidation period should be extended due to the pendency of a Writ Petition filed by a …

**Ratio:** The court has the discretion to extend the liquidation period if circumstances warrant

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**Reasoning:** The court considered the submissions of the Liquidator's counsel, the pendency of the

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**Interpretation:** The legal issue concerns the balance between adhering to timelines in the

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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…
- **Respondents:** SOLAR OFFSET…; PADMAKUMAR K C…

## Timeline

- **2023-05-31 — Liquidation Ord…**: The liquidation order was issued for M/s.…
- **2024-02-26 — E-Auction…**: Date of the e-auction where a…

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