# In the matter of Shirani Automotive Pvt. Ltd.

> NCLT judgment dated 2022-07-15. Citation: TCN-2022-NCLT-04588. The application IA/125(MP)2022 was filed by the RP for a further extension of 90 days beyond…

- **Court:** NCLT
- **Order date:** 15 Jul 2022
- **Citation:** TCN-2022-NCLT-04588
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/shirani-automotive-pvt-ltd-15c09aaf

## Summary

### Background

The application IA/125(MP)2022 was filed by the RP for a further extension of 90 days beyond 180 days for the completion of the Corporate Insolvency Resolution Process (CIRP) under Section 12(2) of the IBC, 2016.

## Facts

The application IA/125(MP)2022 was filed by the RP.

The application seeks a 90-day extension beyond the initial 180 days for CIRP completion.

The extension is sought under Section 12(2) of the IBC, 2016.

The CoC meeting on 18.05.2022 discussed the extension.

All CoC members agreed to the extension with 100% votes.

The CIRP is still pending progress.

The CIRP period is extended by 90 days from 22.06.2022.

## Issues and analysis

### Issue 1: Whether the extension of the CIRP period by 90 days beyond the initial 180 days is justified under …

**Ratio:** Section 12(2) of the IBC, 2016 allows for the extension of the CIRP period beyond 180

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**Reasoning:** The CoC's unanimous agreement (100% votes) indicates a consensus among the creditors

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**Interpretation:** The Adjudicating Authority interprets Section 12(2) to permit extensions when

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**Application:** In this case, the unanimous agreement of the CoC and the pending progress of

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## Parties

- **Judges:** Madan B.…; KAUSHALENDRA…
- **Respondents:** Shirani Automotive…
- **Other parties:** Kamal Ag…

## Timeline

- **2022-05-18 — CoC Meet…**: CoC meetings held seeking…
- **2022-06-22 — CIRP Exte…**: CIRP period extended by…

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