Case Note & Summary
The case involved two appeals concerning the extension of License No. 41 of 2018, filed by Bishwanath Traders and Investment Ltd. and Ashish Singh, the erstwhile Resolution Professional for Vibrant Buildwell Pvt. Ltd. The appeals were against an order dated 04.11.2025 from the Learned Adjudicating Authority, which had declined the request for exclusion of the Corporate Insolvency Resolution Process (CIRP) period for the license. The appellant's counsel highlighted that despite the rejection, the Directorate of Town & Country Planning, Haryana had initially extended the license until 15.06.2026 and later until 15.06.2027. The appellant sought permission to file for further extension of the license, which the court found reasonable. The respondent's counsel acknowledged the extensions granted. The Tribunal allowed the request for the appellant to file an application for further extension and disposed of the appeals accordingly, also addressing pending applications. The court emphasized the importance of considering the extension favorably in light of the previous extensions granted.
Headnote
A) Administrative Law - License Extension - Authority to Extend License - Companies Act, 2013 - The court allowed the appellant to file an application for further extension of License No. 41 of 2018, acknowledging that the license had been extended previously and should be considered favorably by the Directorate of Town & Country Planning, Haryana. Held that the extension serves the purpose of the license and is in the interest of justice (Paras 4-6).
Issue of Consideration
Whether the extension of License No. 41 of 2018 can be granted despite the rejection of the application by the Adjudicating Authority.
Final Decision
The Tribunal allowed the appellant to file an application for further extension of License No. 41 of 2018 and disposed of the appeals accordingly.
Law Points
- Insolvency proceedings
- License validity
- Extension of license
- Adjudicating Authority's powers
