# VALIA & CO vs JORD ENGINEERS INDIA LTD

> NCLT judgment dated 2026-08-12. Citation: TCN-2026-NCLT-00857. An application was filed by Debi Prasanna Sarangi, Interim Resolution Professional (IRP) of…

- **Court:** NCLT
- **Order date:** 12 Aug 2026
- **Citation:** TCN-2026-NCLT-00857
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/valia-co-vs-jord-engineers-india-ltd-2oq5j

## Summary

### Background

An application was filed by Debi Prasanna Sarangi, Interim Resolution Professional (IRP) of Jord Engineers India Limited, under Section 60(5) of the IBC, 2016, seeking to exclude a period of 3291 days from the Corporate Insolvency Resolution Process (CIRP) and to re-initiate CIRP, confirming his appointment as IRP. The original CIRP application was filed by Valia & Company (Operational Creditor) against Jord Engineers India Ltd for a default in payment for goods supplied, amounting to Rs.4,72,28,431/- plus interest.

## Facts

Debi Prasanna Sarangi, Interim Resolution Professional (IRP) of Jord Engineers India Limited, filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016.

The application seeks to exclude a period of 3291 days from the CIRP period of the Corporate Debtor, specifically from July 31, 2017, to August 04, 2026.

The application also seeks to re-initiate the CIRP of the Corporate Debtor and confirm the appointment of Debi Prasanna Sarangi as the Interim Resolution Professional.

Valia & Company, identified as the Operational Creditor, filed an application under Section 9 of the IBC, 2016, for the initiation of CIRP against Jord Engineers India Ltd.

…

## Issues and analysis

### Issue 1: Whether the period from July 31, 2017, to July 20, 2026, should be excluded from the Corporate …

**Ratio:** The Tribunal, under Section 60(5) of the IBC, 2016, read with Rule 11 of the NCLT Rules,

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**Reasoning:** The CIRP, despite the admission order on July 31, 2017, and IRP appointment on October

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**Interpretation:** The legislative intent of the IBC emphasizes timely resolution. When external

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**Application:** By excluding the period from July 31, 2017, to July 20, 2026 (the date the

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** VALIA &…; Debi Prasanna…; +2 more
- **Respondents:** JORD ENGINEERS…
- **Advocates:** Mily Gh…; K. Chau…

## Timeline

- **2017-07-31 — Company Petition…**: The Tribunal admitted the Company Petition, ordered a moratorium, and called for names of…
- **2017-10-03 — IRP Appo…**: The Interim Resolution Professional was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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