Authority: National Company Law Tribunal (NCLT), New Delhi Court-IV
Order Date: 11 June 2026
Case Overview
This proceeding concerns an application (IA/2667/ND/2026) filed by the Liquidator of Wave Global Educational Service Pvt Ltd under Regulation 44(2) of the IBBI (Liquidation Process) Regulations, 2016. The application sought a six-month extension to complete the corporate debtor's liquidation process. The liquidation process has been ongoing since 2021. The Liquidator's counsel submitted that the need for an extension arose because a previous order from this Adjudicating Authority (dated 02.09.2025 in IA/2902/ND/2022 & IA/2903/ND/2022), which directed respondents to refund certain amounts to the liquidator, has been challenged. These appeals (Company Appeal (AT) (Ins) No. 1549 of 2025 & Company Appeal (AT) (Ins) No. 62 of 2026) are currently pending before the National Company Law Appellate Tribunal (NCLAT), with the next hearing date scheduled for 27 July 2026.
Final Outcome
The NCLT bench, comprising Member (Judicial) Shri Mahendra Khandelwal and Member (Technical) Shri Atul Chaturvedi, allowed the application. The tribunal granted a six-month extension to the Liquidator to complete the liquidation process, effective from 11 May 2026 to 10 November 2026. The tribunal noted the prolonged duration of the process and directed the Liquidator to take all possible efforts to complete it within this newly extended timeframe. The application was disposed of accordingly.
Topics: Insolvency, Liquidation Process, NCLT