# In the matter of Nirmangold Plasttech Private Limited

> NCLT judgment dated 2025-06-04. Citation: TCN-2025-NCLT-01070. The case involves an application for extension of time in the Corporate Insolvency Resolution…

- **Court:** NCLT
- **Order date:** 4 Jun 2025
- **Citation:** TCN-2025-NCLT-01070
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/nirmangold-plasttech-private-limited-c69defe3

## Summary

### Background

An Interlocutory Application was filed by the Applicant/Resolution Professional of the Corporate Debtor against Shivaji Nagrik Sahakari Bank Limited seeking certain directions.

## Facts

An Interlocutory Application was filed seeking an extension of time for the Corporate Insolvency Resolution Process (CIRP) of Nirmangold Plasttech Private Limited.

The 6th CoC meeting of the Corporate Debtor was held on 06.12.2024 & 09.12.2024, where a resolution plan was discussed.

The 8th CoC meeting was held on 24.02.2025, and the CoC members were informed about the last date of submission of Resolution Plans being 07.12.2024.

The CoC did not agree to an upward revision in the Resolution Plan amount by INR 21 Lacs.

The Insolvency and Bankruptcy Code (IBC) mandates that the CIRP must be completed within a maximum of 330 days from the insolvency commencement date.

No Resolution Plan was approved by CoC as on 1.5.2025.

…

## Issues and analysis

### Issue 1: Whether the extension of time for the Corporate Insolvency Resolution Process (CIRP) should be …

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

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**Reasoning:** The court considered the application for extension of time, taking into account the

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**Interpretation:** The court interpreted Section 12(2) to allow for extensions of the CIRP period

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**Application:** The court initially allowed the extension of the CIRP by 60 days from

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## Parties

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

## Timeline

- **06.12.2024 — CoC Meet…**: 6th CoC meeting of the…
- **09.12.2024 — CoC Meet…**: 6th CoC meeting of the…

## 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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