# In the matter of Tribhovandas Bhimji Zaveri & Sons Retail Pvt. Ltd.

> NCLT judgment dated 2022-07-11. Citation: TCN-2022-NCLT-01778. The case pertains to IA 1524/2022 filed in C.P.(IB)-2979(MB)/2018 before the National Company…

- **Court:** NCLT
- **Order date:** 11 Jul 2022
- **Citation:** TCN-2022-NCLT-01778
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/tribhovandas-bhimji-zaveri-sons-retail-pvt-ltd-131fedce

## Summary

### Background

The case pertains to IA 1524/2022 filed in C.P.(IB)-2979(MB)/2018 before the National Company Law Tribunal, Mumbai Bench, Court-II. The IA was filed by the Liquidator, Rahul Kavthekar, seeking an extension of time for the liquidation process of the Respondent Company.

## Facts

The Liquidator, Rahul Kavthekar, filed IA 1524/2022 seeking an extension of time for the liquidation process of the Respondent Company. The initial liquidation period was set to expire, and the Liquidator required additional time to complete the process. The application requested an extension from 2022-01-30 for nine months, until 2023-02-28. The court considered the submissions of the Liquidator's counsel and the averments made in the application. The Respondent was absent. The court was satisfied with the reasons provided and granted the extension.

## Issues and analysis

### Issue 1: Whether the extension of time for the liquidation process of the Respondent Company should be …

**Ratio:** The court has the power to grant extensions of time in liquidation proceedings if it is

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**Reasoning:** The court considered the submissions of the Liquidator's counsel and the averments made

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**Interpretation:** This case interprets the court's discretionary power to grant extensions in

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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:** Shyam Babu…; P.N. Des…
- **Appellants:** Rahul Kav…
- **Respondents:** Tribhovandas…; Abse…
- **Advocates:** Ninad Sahas…

## Timeline

- **2022-01-30 — Original Liquidation…**: The initial liquidation process of…
- **2022-07-11 — Hearing…**: The National Company Law Tribunal, Mumbai Bench, heard the application for extension of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 19(2) — Personnel to extend co-operation to interim…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-19)

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