NATIONAL COMPANY LAW TRIBUNAL

INDORE SPECIAL BENCH

COURT NO. 1

ITEM No.301

TP 200 of 2019 [CP(IB) 548 of 2018]

Order under Section 7 IBC

IN THE MATTER OF:

Bank of India ........Applicant

V/s

MP Agro BRK Energy Foods Pvt Ltd ........Respondent

Order delivered on 02/05/2025

Coram:

Shammi Khan, Hon’ble Member(J)

Sanjeev Kumar Sharma, Hon’ble Member(T)

ORDER

The case is fixed for pronouncement of the order.

The order is pronounced in open Court vide separate sheet.

Sd/- Sd/-

SANJEEV KUMAR SHARMA SHAMMI KHAN

MEMBER (TECHNICAL) MEMBER (JUDICIAL)

Tomar

BEFORE THE ADJUDICATING AUTHORITY NATIONAL COMPANY LAW TRIBUNAL INDORE SPECIAL BENCH, AT INDORE TP(IB)/200/MP/2019 Old CP (IB) 548 of 2018 (An application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 r/w Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016) In the matter of MP Agro BRK Energy Foods Private Limited Bank of India UG 2,3,4 Om Gurudev Complex Scheme No. 540, Opp. Rajshri Appollo Hospital, Vijay Nagar, Indore Madhya Pradesh - 452010 …Applicant/Financial Creditor VERSUS MP Agro BRK Energy Foods Private Limited CIN: U15410MP2007PLC019486 Plot No. 71(B&C)

Industrial Area No. 1, A.B. Road, Dewas, Madhya Pradesh – 455001.

…Respondent/Corporate Debtor Order pronounced on 02.05.2025 C O R A M:

SH. SHAMMI KHAN, HON’BLE MEMBER (JUDICIAL)

SH. SANJEEV KUMAR SHARMA, HON’BLE MEMBER (TECHNICAL)

A P P E A R A N C E For the Applicant/FC : Ms. Darshana Baghel, Advocate For the Respondent/CD : Mr. Sanyat Lodha, Advocate

O R D E R

(Per: BENCH)

1. This is an application filed on 22.10.2018 by Bank of India (hereinafter referred to as “the Applicant/ Financial Creditor”) against MP Agro BRK Energy Foods Private Limited (hereinafter referred to as “the Respondent/Corporate Debtor”) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “IBC, 2016”) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiation of Corporate Insolvency Resolution Process (CIRP) against the Respondent/Corporate Debtor, to appoint Interim Resolution Professional (hereinafter referred to as “IRP”) and declare the moratorium for having defaulted payment of its outstanding dues Rs. 11,57,89,697/-

[Principal 10,43,09,697 + Interest Rs. 1,14,80,000].

2. The application is affirmed by Mr. Sridhar Seshadri, Authorized officer of the Financial Creditor, who is authorized under Authority letter marked as Annexure-B.

3. Perusal of of Part-I of the Form-1 indicates that the Applicant/Financial Creditor is a Bank. The registered office of the Financial Creditor is situated at UG 2,3,4 Om Gurudev Complex, Scheme No. 540, Opp. Rajshri Appollo Hospital, Vijay Nagar, Indore, Madhya Pradesh - 452010.

4. Perusal of Part-II of the Form-1 reveals that the Respondent/Corporate Debtor is MP Agro BRK Energy Foods Private Limited (CIN: U15410MP2007PLC019486). The date of incorporation is 26.04.2007. The registered office of the Respondent/Corporate Debtor is situated at Plot No. 71(B&C), Industrial Area No. 1, A.B. Road, Dewas, Madhya Pradesh -

455001.

5. Perusal of Part-III of the Form-1 reveals that the Applicant/Financial Creditor initially nominated the name of Ms. Teena Sarawat Pandey, having Registration No. IBBI/IPA- 001/IP-P00652/2017-18/11126 under section 13 (1)(c) of the Code to act as Interim Resolution Professional (IRP). Later, vide order dated 24.03.2023, the proposed IRP was replaced through I.A. 89(MP)/2023 with Ms. Chaya Gupta due to the original IRP‟s conflict of interest, having Registration No.

IBBI/IPA-002/IP-N00984/2020-2021/13133. (Email: guptachayacs@gmail.com) under section 13 (1)(c) of the Code to act as Interim Resolution Professional (IRP). She has filed her written communication annexed with the Petition as Form-2 as per the requirement of Rule 9(l) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. Her AFA is valid up to 30.06.2025 as per data available on the of