# In the matter of Saubhagya Ornaments Private Limited

> NCLT judgment dated 2026-02-05. Citation: TCN-2026-NCLT-00141. 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-00141
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/saubhagya-ornaments-private-limited-c5778ec1

## 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.

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 has the power to grant extensions

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**Reasoning:** The Tribunal considered the submissions made by the Counsel for the Liquidator and the

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**Interpretation:** The Tribunal interprets the provisions of the Insolvency & Bankruptcy Code,

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

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## Parties

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

## Timeline

- **05.02.2026 — Order Del…**: Order delivered on the application for extension of time and taking on record the report…
- **07.02.2026 — Effective Date of…**: The extension of three months…

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