Case Details
Case Name: Bank Of Baroda Vs. Our Co. Infrastructure Developers Private Limited
Court/Authority: National Company Law Tribunal (NCLT), New Delhi Principal Bench
Case/Order No.: IB-680(PB)/2024 & New IA-2211/2026
Date of Order: 20th May 2026
Nature of Application: Order under Section 7 of the Insolvency & Bankruptcy Code, 2016 (CIRP) and an application under Section 12(2) of the Code.
Parties Involved
Petitioner/Financial Creditor: Bank Of Baroda
Respondent/Corporate Debtor: Our Co. Infrastructure Developers Private Limited
Applicant/Interim Resolution Professional (IRP): Mr. Abhimanyu Mittal
Counsel for Applicant/IRP: Mr. Abhindra Maheshwari and Mr. Shivam Gupta, Advocates
Tribunal Bench: Justice Anupinder Singh Grewal (Hon'ble President) and Shri Ravindra Chaturvedi (Hon'ble Member - Technical)
Issues / Allegations / Violations
The primary issue was the inability to complete the Corporate Insolvency Resolution Process (CIRP) within the prescribed timeline. The CIRP was scheduled to end on 19th May 2026. The IRP filed an application seeking a 60-day extension, citing practical difficulties. The core reason for the delay was the persistent denial of access to the sole immovable asset of the Corporate Debtor, which prevented the completion of the valuation process and effective consideration of Resolution Plans.
Findings & Observations
The Tribunal heard the submissions from the counsel for the IRP. It noted the averments made in the application, specifically referencing paragraph 29, which detailed the circumstances causing the delay. The Tribunal concluded that granting an extension would be in the interest of justice to allow for the conclusion of the CIRP process.
Penalties / Settlements / Directions
The NCLT allowed the application (New IA-2211/2026). The CIRP period for Our Co. Infrastructure Developers Pvt. Ltd. was extended by 60 days beyond the original end date of 19th May 2026. The new deadline for concluding the CIRP is 19th July 2026.
Final Ruling & Enforcement
The application was allowed and disposed of accordingly. The order is immediately effective, granting the IRP the extended timeframe until 19th July 2026 to complete the resolution process, including gaining access to the asset, finalizing valuations, and facilitating the consideration of resolution plans.