403

IN THE NATIONAL COMPANY LAW TRIBUNAL

DIVISION BENCH (COURT– I) CHENNAI

ATTENDANCE CUM ORDER SHEET OF THE HEARING

HELD ON 03.03.2025 THROUGH VIDEO CONFERENCE

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PRESENT: HON'BLE SHRI SANJIV JAIN, MEMBER (JUDICIAL)

HON'BLE SHRI VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)

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IN THE MATTER OF : BR Green Industries Pvt Ltd

Vs

Svaryu Energy Ltd

MAIN PETITION NUMBER : CP(IB)/193(CHE)/2023

(IA/MA) APPLICATION NUMBERS

IA(IBC)/141(CHE)/2025

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ORDER

CP(IB)/193(CHE)/2023

IA(IBC)/141(CHE)/2025

Present: Mr. Pawan Jhabakh, Ld. Counsel for IRP.

Ms. Santhya, Ld. Counsel for Bank of Baroda.

Ld. Sr. Counsel Shri. R. Sankaranarayanan and Mr. Arjun Suresh for

Medha Servo Drives (P) Ltd.

Mr. Kumarpal Chopra, Ld. Counsel for Corporate Debtor.

Ld. Counsel for the IRP submits that the dues of the IRP has been paid

including the CIRP cost by the Corporate Debtor.

Vide separate Order pronounced in open Court, Application for withdrawal

under Section 12A of IBC is allowed

The Petition is accordingly dismissed as withdrawn.

File be consigned to records.

-sd- -sd-

[VENKATARAMAN SUBRAMANIAM] [SANJIV JAIN]

MEMBER (TECHNICAL) MEMBER (JUDICIAL)

MS

IN THE NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH – I, CHENNAI In the matter of M/s. Svaryu Energy Limited IA/IBC/141/2025 In CP/IB/193/2023 (filed under Section 12 A of the Insolvency and Bankruptcy Code, 2016 along with Regulation 30A of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations

2016 )

Surinder Babbar Interim Resolution Professional of Svaryu Energy Limited IBBI/IPA-001-IP-P-02534/2021—2022/13878 C13/54, 2nd Floor, Sector 3 Rohini, North West, National Capital Territory of New Delhi- 110085 Order pronounced on 3rd March, 2025 CORAM:

SANJIV JAIN, MEMBER (JUDICIAL)

VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)

Present:

For Applicant : Mr. Pawan Jhabakh, Ld. Counsel for IRP For Corporate Debtor : Mr. Srinath Sridevan, Ld. Sr. Counsel &

Mr. Pranav, Ld. Counsel

ORDER

This application IA(IBC)/141(CHE)/2025 has been filed by the Interim Resolution Professional of Svaryu Energy Limited, the Corporate Debtor under Section 12A of IBC seeking permission to withdraw Company Petition CP IB No. 193 of 2023 whereby Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 18th December 2024 based on the petition filed by BR Green Industries Private Limited, the Operational Creditor under section 9 of the Insolvency and Bankruptcy Code, 2016. It is stated that by the 18th December 2024 order, the Applicant was appointed as the Interim Resolution Professional (hereinafter referred to ’the IRP’).

2. It is stated that as soon as the copy of Order was made available, admitting Corporate Insolvency Resolution Process against the Corporate Debtor, a public announcement was made on 24th December 2024 in Form A, under Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. It is stated that the public announcement was made in English newspaper “Financial Express", and in regional language newspapers being "Makkal Kural" and "Prathakal".

3. It is stated that pursuant to the Public Announcement, claims with proof were to be lodged with the Applicant on or before the 7th January 2025. It is stated that claims to an extent of Rs.1398,93,77,532.26 (Rupees One Thousand Three Hundred and Ninety Eight Crores, Ninety Three Lakhs, Seventy Seven Thousand, Five Hundred and Thirty Two, and Twenty Six Paisa) were received which were provisionally considered, subject to the process of substantiation, verification and reconciliation. The list of claims is enclosed and annexed along