Authority: National Company Law Tribunal Kochi Bench (Shri Vinay Goel, Hon'ble Member (Judicial) and Shri Ravichandran Ramasamy, Hon'ble Member (Technical))
Order Date: 09 June 2026
Case Overview
This application (IA(IBC)/210/KOB/2026) was filed by the Resolution Professional, Dileep KP, in the matter of M/s Roofco Trading Company Pvt Ltd versus Yes Bank Limited under Section 12(2) of the Insolvency and Bankruptcy Code (IBC). The Resolution Professional sought extension of the Corporate Insolvency Resolution Process (CIRP) period, which was due to expire on 30 May 2026. The counsel for the Applicant, Mr. Krishnan Unni, appeared virtually and submitted that a Resolution Plan received from the suspended director of Roofco Trading Company Pvt Ltd was under consideration by the Committee of Creditors (CoC). Additional time was required for negotiations, modification, and final evaluation of the Resolution Plan.
The Committee of Creditors had passed a resolution with the requisite voting share in its 6th meeting held on 19 May 2026, approving the request for extension of the CIRP period by 90 days.
Final Outcome
The NCLT Kochi Bench, after considering the submissions and perusing the records, found sufficient cause for the extension. The CIRP period for Roofco Trading Company Pvt Ltd was extended by 90 days from 31 May 2026 to 28 August 2026. The application was allowed and disposed of.
Topics: Insolvency Proceedings, NCLT Order, CIRP Extension