Gopal Das Mittal vs Denovo Enterprises Pvt Ltd.

Mr. Khalid Kazi A/w Adv. Shivani Patil, counsel appearing for the Applicant/RP, along with RP Mr. Hemendra Paliwalare are present through virtual hearing.

Briefly heard the RP in the above Interlocutory Application. During discussion the Bench notes that about 3 years’ time had been passed (about 900 days had been passed). Since the CIRP of the corporate debtor company has commenced. The bench was inform by the RP that the total exposure of the Financial Creditor constitute about Rs. 25 lacs. The bench further noted that, the CIRP costs has already crossed About Rs. 90 lacks and there are no substantial assets in the corporate debtor company except for the Zym equipment in the rented premises. The bench broadly feels that there is no point in giving any further extension to the CIRP of the corporate debtor. The bench reject the application for grant of further extension of the CIRP. With the above observations and directions, the above Interlocutory Application bearing No. 2686/2021 rejected and stands disposed of.