The timeline specified under CIRP Regulation 35A is directive, not mandatory – Ritesh R. Mahajan Vs. Mr. Shivkumar Malaghan and Ors. – NCLT Bengaluru Bench
January 10, 2025
The primary objection of the Respondent is that the RP has not filed this application u/s 66 of the Code within a period of 135 days as prescribed under Regulation 35-A of the IBBI (CIRP) Regulations, 2016. In this connection, reliance is placed on the Judgments of the Hon’ble NCLAT in the case of Aditya Kumar Tibrewal RP v. Om Prakash Pandey reported at (2022) ibclaw.in 278 NCLAT in Order dated 06.04.2022, according to which the Regulation 35-A is not mandatory and is only directory in nature.