307

IN THE NATIONAL COMPANY LAW TRIBUNAL

DIVISION BENCH–I, CHENNAI

ATTENDANCE CUM ORDER SHEET OF THE HEARING

HELD ON 14.02.2025 THROUGH VIDEO CONFERENCING

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

HON’BLE SHRI. VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL

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APPLICATION NUMBER : CA(CAA)/70(CHE)/2024

PETITION NUMBER :

NAME OF THE PETITIONER(S) : Tapstia Industrial Micro Estate Landmark

Auto Engineering Consortium Ltd. and Other NAME OF THE RESPONDENT(S) :

UNDER SECTION : Sec 230-232 of CA, 2013

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ORDER IN THE NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH – I, CHENNAI CA(CAA)/70/2024 in CP/91/CHE/2021 (filed under Section 230 to 232 of the Companies Act, 2013 and other applicable provisions of the companies Act, 2013 and rules framed thereunder)

Present: Shri. JayanthViswanathan, Ld. PCS for the Applicant/Liquidator.

Vide separate order pronounced in the Open Court, the application is disposed

of with directions.

Sd/- Sd/-

VENKATARAMAN SUBRAMANIAM SANJIV JAIN

MEMBER (TECHNICAL) MEMBER (JUDICIAL)

VS

In the matter of Tapstia Industrial Micro Estate Landmark Auto Engineering Consortium Limited under Liquidation And Gemini Property Developers India LLP (Scheme Proponent)

Tapstia Industrial Micro Estate Landmark Auto Engineering Consortium Limited (under Liquidation)

Represented by its Liquidator Mr. L.V.Shyam Sundar having his office at No.113/52, 3rd Floor, Ankur Plaza, Gopathy Narayanaswami Chetty Road, T Nagar, Chennai – 600 017 … Applicant Order pronounced on 14th February, 2025 CORAM :

SANJIV JAIN, MEMBER (JUDICIAL)

VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)

For Applicant : Jayanth Viswanathan,PCS

O R D E R

(Heard through Hybrid Mode)

1. This application has been filed by the Liquidator of Tapstia Limited being the Company Under Liquidation under Section 230 and other applicable provisions of the Companies Act, 2013 read with regulation 2B of the IBBI (Liquidation Process) Regulations, 2016, The Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 and the NCLT Rules, 2016, seeking the following reliefs:

a. Direct convening, holding, and conducting of the meeting of the Stakeholders of the Applicant Company.

b. Direct issuance of notices to statutory authorities as per the provisions of section 230(5) of the Companies Act 2013 and rule 8 of the Companies (Compromise, Arrangements and Amalgamations) Rules, 2016.

c. Direct issuance of Publication of Advertisement of such notices in Times of India (Any English paper — All India Edition) and Makkal Kural(Vernacular-Tamil)

d. Pass such other orders as the tribunal deems fit in the interest of justice.

2. Before venturing into the merits of the Application as well as the Scheme for which approval inter-alia is being sought for by the Liquidator from the Stakeholders by convening the meeting or otherwise dispensing with, it is necessary for this Tribunal to briefly state the facts in relation to the Company under liquidation as averred in the Application as well as the proceedings bringing to the present state of affairs of the Company.

3. The Applicant Company being the Corporate Debtor was admitted into Corporate Insolvency Resolution Process vide order of this Tribunal dated 17.11.2021 and was therafter ordered for liquidation vide order dated 20.01.2023 and the Applicant herein was appointed as the liquidator.

4. The liquidator upon his appointment, in compliance with the provisions of the code and the regulations made thereunder, issued a public announcement inviting claims from the stakeholders of the CD in Times of India (English) and Makkal Kural (Vernacular), on 24.01.2023. The liquidator duly received claims from the creditors and filed the list of stakeho