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Judgment
ORDER
IA 4028/2025
The present application has been filed by the Liquidator. The following reliefs are sought:
a. Be pleased to grant an extension of 1 year from 29.08.2025, as a result of which the Liquidation process of the Corporate Debtor shall be extended till 28.08.2026;
Ld. Counsel appearing for the Liquidator submits that reasons stated there in are as under:-
“It is submitted that, irreparable harm and injury shall be caused to the Corporate Debtor, if the reliefs prayed for, are not granted as the extension of 1 Year of the Liquidation period shall enable the Applicant to close all the litigations of the Corporate Debtor and distribute the proceeds realized which will further benefit in achieving the objectives of the IBC 2016. Hereto annexed and marked as Exhibit— “E” is a copy of the Report of the Liquidator under Regulation 44(2) of the IBBI (Liquidation Process) Regulations, 2016 dated 18.08.2025 stating the reasons for noncompletion of Liquidation and additional period required.”
After considering the facts and circumstances of the case, the Tribunal is inclined to extend the Liquidation period as prayed for. Accordingly, the Liquidation period is extended from 29.08.2025 till 28.08.2026. Accordingly, IA 4028/2025 is allowed and disposed of accordingly.