Authority: National Company Law Tribunal, New Delhi Principal Bench
Order Date: 07.07.2026
Case Overview
This matter concerns an application (IA-2965/2026) filed by the Liquidator, Mr. Arvind Garg, for Moser Baer Solar Limited, which is undergoing liquidation. The application sought a six-month extension to complete the liquidation process. The matter was heard by a bench comprising Justice Anupinder Singh Grewal (President) and Shri Ravindra Chaturvedi (Member - Technical). The application was made in accordance with regulation 44(2) of the IBBI (Liquidation Process) Regulations, 2016, following a directive from the Committee of Creditors (erstwhile Consultative Committee of Stakeholders).
In its Thirtieth meeting, the Committee of Creditors had unanimously passed a resolution directing the Liquidator to file this application. The resolution was voted in favour by all members present: Punjab National Bank, State Bank of India, Exim Bank, Alchemist Asset Reconstruction Company Limited, Central Bank of India, and Bank of Baroda. There were no votes against the resolution. The reason for the delay, as cited by the Liquidator's counsel, was that despite best efforts, the process could not be completed within the original timeframe.
Final Outcome
The NCLT approved the application and granted an extension of six months for the completion of the liquidation process, effective from July 1, 2026. The tribunal directed the Liquidator to positively complete the process within this newly extended period. The application was disposed of accordingly.
Topics: Insolvency, Banking, NCLT