CFM ARC Seeks 90-Day CIRP Extension for Bhagirath Construction

Authority: National Company Law Tribunal (NCLT), Ahmedabad Bench - Court 2

Order Date: 10 July 2026

Case Overview

This is an interlocutory application (IA/1047(AHM)2026) filed within the main insolvency petition (C.P. (IB)/294/AHM/2023), which is a proceeding under Section 7 of the Insolvency and Bankruptcy Code (IBC). The applicant, CFM Asset Reconstruction Private Limited, is seeking an extension of 90 days for the completion of the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor, Bhagirath Construction Company Private Limited. The application specifically requests that the process be extended beyond the prescribed statutory period of 330 days.

Final Outcome

The bench, comprising Member (Judicial) Mrs. Chitra Hankare and Member (Technical) Dr. Velamur G Venkata Chalapathy, heard the learned counsel for the applicant. The Tribunal directed the Committee of Creditors (COC) to complete its e-voting process before Wednesday, 15 June 2016. The matter has been listed for further consideration on 17 July 2026. A final ruling on the extension application is pending.

Topics: Insolvency, NCLT Proceedings