NCLAT Judgment on CIRP Extension Rejects 90 Days but Allows 45 Days

ASREC (India) Ltd Vs Kamal Agarwal RP of Torque Automotive Pvt. Ltd. (NCLAT Delhi) This case concerns an appeal filed by ASREC (India) Ltd. against an order issued by the Adjudicating Authority (National Company Law Tribunal) in Ahmedabad on June 30, 2025. The Adjudicating Authority had rejected an application from the Resolution Professional (RP) of Torque Automotive Private Limited seeking a 90-day extension of the Corporate Insolvency Resolution Process (CIRP). The rejection was based on the Adjudicating Authority’s view that the CIRP had already been excessively prolonged (465 days) ...