Mr. Shashank Dinesh Posture vs Coc & Ors & Ors

NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI Comp. App. (AT) (Ins) No. 978 of 2026 IN THE MATTER OF: Shashank Dinesh Posture, Resolution Professional of ...Appellant(s) New Bombay Paper Mills Pvt. Ltd. Versus

Committee of Creditors of New Bombay Paper Mills ...Respondent(s) Pvt. Ltd. Present: For Appellant : Mr. Gaurav Mitra, Mr. Aishwarya Modi, Mr. Ishan Roy Chowdhury and Ms. Muskan Khatana, Advocates.

For Respondents : Mr. Anupam Singh, Advocate for CoC (SBI and Yes Bank)

ORDER

(Hybrid Mode)

27.05.2026 Heard Ld. Counsel for Appellant as well as Ld. Counsel

appearing for the Committee of Creditors, Respondents herein.

2. This Appeal has been filed against the order dated 06/05/2026 in I.A.

1854/MB/2026 and I.A. 1022/2026.

3. The Resolution Professional has filed an Application for extension of

Corporate Insolvency Resolution Process period for 90 days beyond 330 days

from 27/02/2026 to 28/05/2026. The Adjudicating Authority has rejected the

Application/

4. Ld. Counsel for Appellant submits that, in pursuance of the Fresh Form

G issued, three Resolution Plans were received which were being voted and the

voting has commenced on 12/05/2026, however, the order impugned being

uploaded on 19/05/2026. the voting has been abandoned.

5. Ld. Counsel for Committee of Creditors submitted that three Resolution

Plans have been received and they were put for voting a short extension ought

to have been granted to complete the process since the Corporate Debtor was

likely to be resolved.

6. We are of the view that, in the facts of the present case, ends of justice

be served in extending the period of CIRP till 30/06/2026, during which period

the voting shall be completed and appropriate Application be filed before the

Adjudicating Authority, if any, in case any Plan is approved.

7. The Appeal disposed of accordingly.

[Justice Ashok Bhushan] Chairperson

[Barun Mitra] Member (Technical) Prerana/md

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