# In the matter of Saubhagya Ornaments Private Limited

> NCLT judgment dated 2026-02-05. Citation: TCN-2026-NCLT-00142. The Liquidator filed an application seeking an extension of three months to complete the…

- **Court:** NCLT
- **Order date:** 5 Feb 2026
- **Citation:** TCN-2026-NCLT-00142
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/saubhagya-ornaments-private-limited-85682625

## Summary

### Background

The Liquidator filed an application under Section 35(2) of the Insolvency & Bankruptcy Code, 2016 to take on record the Report with stakeholders.

## Facts

An application was filed by the Liquidator under Regulation 44(2) of the Insolvency & Bankruptcy Code, 2016, seeking an extension of time.

The Tribunal is inclined to extend the period for three months w.e.f. 07.02.2026 to complete the liquidation process.

The Liquidator is directed to complete the liquidation process within the extended period.

An application was filed under Section 35(2) of the Insolvency & Bankruptcy Code, 2016 to take on record the Report with stakeholders.

The consultation report with stakeholders is taken on record subject to all just exceptions.

## Issues and analysis

### Issue 1: Whether an extension of three months should be granted to the Liquidator to complete the …

**Ratio:** The Tribunal is inclined to extend the

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**Reasoning:** Based on the facts and circumstances of the case, submissions made by the Counsel for the

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**Interpretation:** The Tribunal has the power to grant an extension of time for the completion of

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**Application:** The Tribunal applied its discretion to grant an extension of three months to

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## Parties

- **Judges:** MANNI SANKARIAH…; ATUL CHAT…
- **Appellants:** SRS L…
- **Respondents:** Saubhagya…
- **Other parties:** Vanshika…
- **Advocates:** Vanshika…; Niyati Ch…

## Timeline

- **05.02.2026 — Order del…**: Order was delivered on…
- **07.02.2026 — Effective date of…**: Extension of three months granted w.e.f.…

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