# In the matter of NIRMANGOLD PLASTTECH PRIVATE LIMITED

> NCLT judgment dated 2025-06-04. Citation: TCN-2025-NCLT-00937. The case involves an Interlocutory Application filed by the Resolution Professional of the…

- **Court:** NCLT
- **Order date:** 4 Jun 2025
- **Citation:** TCN-2025-NCLT-00937
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/nirmangold-plasttech-private-limited-4ae6921e

## Summary

### Background

The case also involves an Interlocutory Application filed by the Applicant/Resolution Professional of the Corporate Debtor against the Respondent/ Shivaji Nagari Sahakari Bank Limited u/s 19(2) of the Insolvency and Bankruptcy Code, 2016 seeking certain directions against the Respondent herein.

## Facts

The Resolution Professional sought an extension of time for the CIRP of Nirmangold Plasttech Private Limited.

The 6th CoC meeting was held on 06.12.2024 & 09.12.2024.

The 8th CoC meeting was held on 24.02.2025.

The CoC received a resolution plan with an upward revision of INR 21 Lacs, but did not agree to it.

The CoC approved the extension of the CIRP by 60 days beyond 02.03.2025 with a 100% vote.

The CIRP period, including the extension, expired on 01.05.2025 without an approved resolution plan.

…

## Issues and analysis

### Issue 1: Whether the extension of time …

**Ratio:** Section 12(2) of the

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**Reasoning:** The Adjudicating Authority considered the submissions and the CoC's approval for the

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**Interpretation:** The Adjudicating Authority has the power to grant an extension of time for the

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**Application:** The extension was initially granted but ultimately did not result in an

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## Parties

- **Judges:** Prabhat…; V.G. B…
- **Appellants:** Abhyudaya…; Resolution…
- **Respondents:** Nirmangold…; Shivaji Nagrik…
- **Other parties:** Rakesh Kumar…
- **Advocates:** Rakesh…; Gaurav Ja…

## Timeline

- **2024-12-06 — 6th CoC M…**: 6th CoC meeting of the…
- **2024-12-09 — 6th CoC M…**: 6th CoC meeting of the…

## 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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