CIRP Extension Justified Where Resolution Near Completion: NCLAT

UCO Bank Vs C.A. Navin Kumar Khandelwal (NCLAT Delhi) The National Company Law Appellate Tribunal (NCLAT) Delhi has overturned an order by the Adjudicating Authority, granting an extension to the Corporate Insolvency Resolution Process (CIRP) of M/s. Shri Ram Switchgears Limited. UCO Bank, the appellant, challenged the Adjudicating Authority’s decision of June 25, 2025, which had rejected the Resolution Professional’s (RP) plea for a 30-day extension and the exclusion of 148 days from the CIRP timeline. The CIRP for Shri Ram Switchgears Limited commenced on February 29, 2024. The p...