# In the matter of PIONEER GAS POWER LIMITED

> NCLT judgment dated 2025-05-19. Citation: TCN-2025-NCLT-00963. The case involves an application for urgent listing of IA (IBC)/866/2025, which was taken up…

- **Court:** NCLT
- **Order date:** 19 May 2025
- **Citation:** TCN-2025-NCLT-00963
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/pioneer-gas-power-limited-bb875df8

## Summary

### Background

The case involves an application for urgent listing of IA (IBC)/866/2025, which was taken up and IA (IBC)/865/2025 was disposed of as infructuous. Another application was moved seeking an extension of the CIRP period.

## Facts

IA (IBC)/865/2025 was filed for urgent listing of IA (IBC)/866/2025.

IA (IBC)/865/2025 has become infructuous and was disposed of.

An application was moved for seeking a 45-day extension of the CIRP period beyond the previously extended period, which was allowed up to 12.05.2025.

The CoC passed a resolution for the extension of the 45-day time period.

The CoC is at the final stage of analyzing and appraising the resolution plans received by the RP.

The extension is effective from 13.05.2025.

## Issues and analysis

### Issue 1: Whether to grant an extension of 45 days to the CIRP …

**Ratio:** The court has the power to grant extensions to the CIRP period based on the circumstances

…

**Reasoning:** The court considered the resolution passed by the CoC, the submissions of the counsel,

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**Interpretation:** The court interprets the IBC provisions to allow for extensions of the CIRP

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**Application:** The court applied its discretion to grant a 45-day extension, subject to the

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## Parties

- **Judges:** NILESH S…; Sanjay…
- **Appellants:** IFCI…
- **Respondents:** Pioneer Gas Power…
- **Advocates:** Patula Rame…

## Timeline

- **2025-05-19 — Hearing…**: Hearing of the National Company Law Tribunal, Hyderabad Bench, held on 19.05.2025 at…
- **2025-03-17 — Previous Ord…**: Order dated 17.03.2025 allowed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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