DIVISION BENCH ITEM NO.109 NATIONAL COMPANY LAW TRIBUNAL

ALLAHABAD BENCH

PRAYAGRAJ

IA NO.398/2020, IA NO.663/2023 & IA NO.664/2023

IN CP (IB) No.470/ALD/2019

CORAM:

1. SHRI PRAVEEN GUPTA,

HON’BLE MEMBER (JUDICIAL)

2. SHRI ASHISH VERMA,

HON’BLE MEMBER (TECHNICAL)

Date of Order: 17^th September, 2024

Attendance-Cum-Order Sheet of the Hearing.

NAME OF THE COMPANY INDIAN INSTITUTE OF

EDUCATORS PVT LTD V/S NEELKANTH SURGICAL

INDUSTRIES PVT LTD

UNDER SECTION 7 IBC (IN CIRP)

COUNSEL APPEARED THROUGH PHYSICAL/ VIRTUAL HEARING:

Sh. Vipin Kumar Kushwaha, Adv. : For the Applicant/ RP, Mr. Shravan

Kumar Vishnoi present in person

ORDER

IA NO.663/2023

Ld. Counsel representing the Applicant/ RP along with RP in person is

present through VC.

1. In pursuance of an order dated 30.11.2023 passed by this Adjudicating

Authority, the RP/ Liquidator has undertaken to move an appropriate application seeking amendment in the prayer clause of IA No.398/2020. Accordingly, the present IA No.663/2023 has been filed with the following

prayer :-

It is therefore most respectfully prayed that the facts and circumstances as described above, the Hon’ble Tribunal may be pleased to allow this amendment application pursuant to deleting the prayer no. “(iii) Direct the Committee of Creditors of Corporate Debtor to pay the CIRP cost in full to Resolution Professional” of the IA No. 398 of 2020 (liquidation Application) relating to payment of CIRP cost, in the interest of justice otherwise the Applicant shall suffer from irreparable loss and injury.

2. The prayer sought in the present application is only limited to seeking deletion of prayer clause (iii) made in IA No.398/2020 relating to the Committee of Creditors to consider the CIRP cost to be paid to the RP.

3. The present application is therefore allowed and the prayer clause (iii) as inscribed in IA No.398/2020 to the following effect stands deleted :-

iii) Direct the Committee of Creditors of Corporate Debtor to pay the CIRP cost in full to Resolution Professional.

4. IA No.663/2023 is allowed in the aforesaid terms and stands disposed off accordingly.

IA NO.664/2023

1. The prayer in the present application is for seeking directions for payment of the CIRP cost to the RP by the CoC.

2. The notice had already been issued in the present application to the CoC members namely the respondents as impleaded in the present application as per the memo of parties given at page no.1.

3. There is no reply/ response filed by either of the members of the CoC.

4. Let fresh notice be issued to the respondents, returnable within a period of two weeks.

5. The RP is also directed to circulate the copy of this order to the CoC members.

6. Let the matter be adjourned for further hearing on 23^rd October, 2024.

IA NO.398/2020

1. This application has been filed interalia with the following prayers :-

i) Pass an order for Liquidation of the Corporate Debtor under Section

33(2) in terms of sub-clauses (i), (ii) and (iii) of sub-section (1) (b)

of Section 33 of the Insolvency and Bankruptcy Code, 2016.

ii) Not to appoint the Resolution Professional Mr. Shravan Kumar Vishnoi as Liquidator who does not wish to act as Liquidator in this matter.

iii) Direct the Committee of Creditors of Corporate Debtor to pay the CIRP cost in full to Resolution Professional.

iv) Pass any other or further order(s) as this Hon’ble Tribunal deem fit and proper in the facts and circumstances of the matter.

2. In terms of an application filed by the RP vide IA No.663/2023, the aforesaid prayer clause (iii) has been ordered to be deleted by our separate order passed today in the said IA No.663/2023.

3. By virtue of the said order, the prayer clause (iii) as reproduced stands deleted, and therefore the present application relates only with respect to prayer clause no.i, ii and iv, which are as under :-

i) Pass an order for Liquidation of the Corporate Debtor under Section

33(2) in terms of sub-clauses (i), (ii) and (iii) of sub-section (1) (b)

of Section 33 of the Insolvency and Bankruptcy Code, 2016.

ii) Not to