SL. No.1

NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH COURT HALL NO: II

Hearing Through: VC and Physical (Hybrid) Mode

CORAM: SHRI. RAJEEV BHARDWAJ – HON’BLE MEMBER (J)

CORAM: SHRI. SANJAY PURI - HON’BLE MEMBER (T)

ATTENDANCE-CUM-ORDER SHEET OF THE HEARING OF NATIONAL COMPANY LAW TRIBUNAL,

HYDERABAD BENCH, HELD ON 03.02.2025 at 10:30 AM

TRANSFER PETITION NO.

IA (IBC)/1947/2024 in

COMPANY PETITION/APPLICATION NO.

CP (IB) No.148/7/HDB/2021

NAME OF THE COMPANY Viom Infra Ventures Ltd

NAME OF THE PETITIONER(S) SREI Equipment Finance Ltd

NAME OF THE RESPONDENT(S) Viom Infra Ventures Ltd

UNDER SECTION 7 OF IBC

ORDER

IA (IBC)/1947/2024

Orders pronounced, recorded vide separate sheets. In the result, this application

is allowed, subject to observations in para 6 & 7 of this order.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Apoorva

IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH, COURT-II [U/s 60(5) of the IBC, 2016 r/w Rule 32(e) of the IBBI (Liquidation Process) Regulations, 2016 & Rule 11 of the NCLT Rules, 2016]

IN THE MATTER OF M/s. VIOM INFRA VENTURES LTD BETWEEN:

M/s. Dickey Alternative Investment Trust, (Acting Through Dickey Asset Management Private Limited, i.e., Fund Manager) Having its Registered office at:

1106, Indra Prakash Building, Barakhamba Road, New Delhi- 110001.

…...Applicant Versus Mr. Jitendra Lohia, Liquidator of Viom Infra Ventures Limited, Having Office at: 2/7, Sarat Bose Road, Vasundhara Building, 2nd Floor, Kolkata- 700020.

…….Respondent/Liquidator Date of Order: 03.02.2025 Coram:

Hon’ble Shri Rajeev Bhardwaj, Member (Judicial)

Hon’ble Shri Sanjay Puri, Member (Technical)

Counsels Present:

For Applicant : Mr. Amar Vivek For Respondent : Mr. Amir Bavani [PER: BENCH]

ORDER

1. This Application is filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Regulation 32(e) of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and read with Rule 11 of the National Company Law Tribunal Rules, 2016, praying as follows:

a. Allow the present application and grant relief and concession as sought for, set out Table- II, in paragraph no. IV (12) of the present Application.

2. Application a. M/s. SREI Equipment Finance Limited filed an application under Section 7 of IBC against M/s. Viom Infra Ventures Limited (CIN: U35203TG2007PLC057400) (Corporate Debtor/CD) to initiate Corporate Insolvency Resolution Process (CIRP). The Tribunal, by order dated 23.09.2021 admitted the CD to CIRP.

b. The Committee of Creditors resolved to initiate liquidation proceedings, as there were no Resolution Applicants and filed an application numbered IA No. 1395/2022. The Application was allowed by an order dated 10.01.2023, and Mr. Jitendra Lohia (bearing Registration No. IBBI/IPA-001/IP-

P00170/2017-18/10339) as Liquidator.

c. The Liquidator issued an auction notice dated 01.01.2024 and an e-auction process document, also dated 01.01.2024, inviting bids for sale of CD as a going concern (excluding certain assets). The Applicant submitted its Expression of Interest (EOI) on 05.02.2024, participated in e-auction on

07.02.2024, and emerged as Successful Bidder.

d. The Liquidator issued Letter of Intent (LOI) on 24.05.2024, which was accepted and acknowledged by the Applicant. Following the auction, the Applicant paid the full amount of Rs. 20,00,00,000 (Twenty Crore Rupees) for which the Liquidator issued sale certificate on 03.07.2024. The possession of all assets, documents and books of account transferred to the Applicant on 09.07.2024.

e. The Applicant and Liquidator have convened a meeting on

14.08.2024 for the constitution of new board for the CD. The liquidation of CD has not yet been completed, as there are other assets still to be sold. The Applicant intends to take over the affairs of the CD and hence sought the reliefs.

3. Counter a. The Liquidator was initially appointed as the Interim Resolution Professional (IRP) for CD by an order dated 23rd September 2021, and as the Resolution Professional (RP) by an order dated 6th