PURSHOTTAM GAGGAR Vs. DYNA ROOF PRIVATE LTD

JUDGEMENT

(1.) The instant intra-Court writ appeal takes exception to the judgment and final order dtd. 22/12/2022, passed by the learned Single Bench, whereby writ petition, being WP(C) No.6003/2022, preferred by the respondent Nos.1 and 2 herein (writ petitioners) challenging the order dtd. 25/8/2022, passed by the National Company Law Tribunal (in short, NCLT), Guwahati Bench in IA(IBC) No.60/GB/2022 in C.P.(IB) NO.18/GB/ 2021, granting further extension of 30 days (beyond the 270 days already availed), was accepted.

(2.) The learned Single Judge, after consideration of the material placed on record, held that the provisions contained in Sec. 33 of the Insolvency and Bankruptcy Code, 2016 (in short, IBC of 2016) were mandatory and the NCLT had no jurisdiction to extend the limitation for completion of the Corporate Insolvency Resolution Process (hereinafter, for short, referred as the CIRP) beyond the statutory period as prescribed under Sec. 12 of IBC of 2016.

(3.) For better appreciation of the controversy, the provisions contained in Sec. 12 of the IBC of 2016, are reproduced hereinbelow for the sake of ready reference: