# In the matter of Veesons Energy Systems Private Limited

> NCLT judgment dated 2023-01-01. Citation: TCN-2023-NCLT-05246. The case involves an application (IA/1536(CHE)/2022) filed by the liquidator of M/s Veesons…

- **Court:** NCLT
- **Order date:** 1 Jan 2023
- **Citation:** TCN-2023-NCLT-05246
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/veesons-energy-systems-private-limited-980b61d9

## Summary

### Background

The case involves an application (IA/1536(CHE)/2022) filed by the liquidator of M/s Veesons Energy Systems Pvt Ltd in CP/510/IB/2017, seeking exclusion of the Covid-19 lockdown period and further extension of the liquidation period. The liquidation was initially ordered on 19.10.2018, and certain periods have been excluded, with extensions granted until 11.12.2022. The liquidator now seeks exclusion of 72 days for the Covid-19 lockdown and an additional 180 days to complete the liquidation process, citing unsold assets.

## Facts

The liquidator of M/s Veesons Energy Systems Pvt Ltd filed IA/1536(CHE)/2022 seeking to exclude 72 days from 19.12.2021 to 28.02.2022, representing the Covid-19 lockdown period. The liquidator also requested an extension of 180 days, from 12.12.2022 to 09.06.2023, to complete the liquidation process. The initial liquidation order was dated 19.10.2018, and previous extensions had been granted. The liquidator cited the existence of unsold assets as a reason for needing the additional time. IA/1574(CHE)/2022 was also mentioned, with the applicant directed to file a clean copy before the next hearing on 16.01.2023.

## Issues and analysis

### Issue 1: Whether the exclusion of the Covid-19 lockdown period from 19.12.2021 to 28.02.2022 and an …

**Ratio:** The court has the discretion to grant exclusions and extensions to the liquidation period

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**Reasoning:** The court found the reasons provided by the liquidator in the application to be

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**Interpretation:** The interpretation involves the court's power to oversee and manage the

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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:** Ramalingam…; Shri. Samee…
- **Respondents:** VEESONS ENERGY…

## Timeline

- **2017-01-01 — Main Petitio…**: CP/510/IB/2017 was…
- **2018-10-19 — Liquidation…**: Liquidation was…

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