ORDER

1. This Application is filed by the Applicant under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the NCLT Rules praying to direct the Resolution Professional to accept the Updated Form-C as submitted by the Applicant and accept the Applicant’s Claim for the total amount (i.e., principal + interest) of Rs.1,81,57,791/- and/ or pass other order/s as may be deemed fit in the interest of justice. 

2. Gist of the application:

2.1 It is averred that M/s. Nadhi Bio Products Private Limited (“Corporate Debtor”) was admitted under CIRP vide order dated 26.05.2023 passed by this Hon’ble Tribunal and appointed Mr.Ramakanth Malapalli as the Interim Resolution Professional. It is submitted that the Interim Resolution Professional had published the Public Announcement (in Form A) on 05.06.2023, notifying 18.06.2023 as the last date for submission of claims.

2.2 It is averred that the Committee of Creditors (“COC”) of the Corporate Debtor, in the 18^th COC meeting held on 01.04.2024, passed a resolution for the replacement of the Erstwhile Resolution Professional with 73.6% of the members of the voting in favour of the replacement of the Erstwhile Resolution Pro