Authority: National Company Law Tribunal, New Delhi Principal Bench
Order Date: 06.07.2026
Case Overview
The application was filed by Bankruptcy Trustee Ms. Pooja Bahry for Smt. Shanta Gupta under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the National Company Law Tribunal Rules, 2016. The trustee sought an extension of the bankruptcy process by six months to complete remaining statutory and administrative functions. The original bankruptcy period was due to expire on 01.07.2026.
The trustee cited several reasons for the delay, including: the need to implement the judgment dated 08.06.2026 passed in IA (IBC) No. 4721(ND)/2025; continuous coordination with NOIDA Authority, District Magistrate Gautam Budh Nagar, Sub-Registrar Noida, Police and other concerned authorities; securing effective possession and control over immovable property restored to the bankruptcy estate; completing the process of asset realization including valuation, sale process, and depositing realizations; completing audit of Receipts and Payments Account, finalizing books of account, determining Bankruptcy Process Costs; and preparing and filing the Final Report for distribution to creditors.
The Committee of Creditors unanimously approved the extension application with 100% voting share through e-voting conducted between 24.06.2026 (from 10 AM) and 25.06.2026 (till 6 PM).
Final Outcome
The NCLT bench comprising Justice Anupinder Singh Grewal (President) and Shri Ravindra Chaturvedi (Member Technical) granted the extension for six months from 02.07.2026 till 01.01.2027. The Bankruptcy Trustee was directed to positively complete the bankruptcy process within the extended period.
Topics: Bankruptcy Proceedings, NCLT Order, Creditor Committee