S.No.1

IN THE NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH – 1

VC AND PHYSCIAL (HYBRID) MODE

ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

17-09-2024 AT 10:30 AM

CP(IB) No. 525/9/HDB/2019

AND

IA (IBC) (Plan) 10/2024, IA(IBC) 1180/2024 in IA (IBC) (Plan) 10/2024,

Inv Petn (IBC) 27/2024 in IA (IBC) 1180/2024 &

IA (IBC) 1498/2024 in IA (IBC) 1180/2024 in CP(IB) No. 525/9/HDB/2019

u/s. 9 of IBC, 2016

IN THE MATTER OF:

M/s. Binjusaria Ispat Pvt Ltd …Operational Creditor

AND

M/s. Abhirama Steels Ltd …Corporate Debtor

C O R A M:-

DR. VENKATA RAMAKRISHNA BADARINATH NANDULA, HON’BLE MEMBER (JUDICIAL)

SH. CHARAN SINGH, HON’BLE MEMBER (TECHNICAL)

O R D E R

IA(IBC) 1180/2024 in IA (IBC) (Plan) 10/2024

Order pronounced. In the result, this application is dismissed imposing costs of Rs. 50,000/- payable by the RP to the Prime Minister Relief Fund. Within

three weeks, and shall file the compliance.

Inv Petn (IBC) 27/2024 in IA (IBC) 1180/2024

In the light of the orders passed in IA(IBC) 1180/2024 in IA (IBC) (Plan)

10/2024, this application stands dismissed. No costs

IA (IBC) 1498/2024 in IA (IBC) 1180/2024

In the light of the orders passed in IA(IBC) 1180/2024 in IA (IBC) (Plan)

10/2024, this application stands dismissed. No costs

As the above IAs are dismissed, hence there is no impediment of disposal of plan

application.

IA (IBC) (Plan) 10/2024

Orders pronounced. In the result, this application is allowed. Resolution plan

is approved as per the terms and conditions mentioned therein

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Swapna

NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH – I IA (IBC) 1180 OF 2024 IA (IBC) (Plan) 10 OF 2024 CP (IB) No. 525/9/HDB/2019 Under Section 60(5) of the Insolvency and Bankruptcy Rules, 2016 read with Rule

11 of the National Company Law Tribunal Rules, 2016 In the matter of:

M/s. Binjusaria Ispat Private Limited Represented by Mr. Mutumpharampthil Prabhakar Survey No. 133/A, Teegapur Village, Kothur Mandal, Mahaboobnagar District – 509228 Telangana …Applicant AND Mr. Maruti Venkata Subba Rao Poluri (Resolution Professional of M/s. Abhirama Steels Limited)

Flat No. 301, Chapa’s Prashanthi Niketan, Street No.4, H.No.1-10-17, Ashok Nagar Circle, Ashok Nagar, Hyderabad – 500020, Telangana …Respondent DATE OF ORDER: 17.09.2024 CORAM:-

DR. Venkata Ramakrishna Badarinath Nandula, Hon’ble Member (Judicial)

Shri. Charan Singh, Hon’ble Member (Technical)

PARTIES/COUNSELS APPEARANCE: -

For the Applicants : Mr. Amir Bavani, Counsel For the Respondent : Mr. B.Chandrasen Reddy, Sr. Counsel along with Mr.Ch.Sreenivasulu, Counsel Resolution Professional : Mr. Maruti Venkata Subba Rao, RP PER: BENCH

ORDER

1. This Application has been filed by the Applicant Under Section 60(5) of the Insolvency and Bankruptcy Rules, 2016 read with Rule 11 of the National Company Law Tribunal Rules, 2016 praying to:

a) Allow the instant Application;

b) To direct the Respondent to issue a fresh Form G reinviting bids in the CIRP of the Corporate Debtor;

c) Alternatively, to allow the Applicant herein to submit its Resolution Plan in the CIRP of the Corporate Debtor to be placed by the Resolution Professional before the CoC for voting; and d) To pass any other order as this Hon’ble Tribunal deems fit in the interest of equity, good conscience and justice.

2. Gist of the Application:

2.1 It is averred that the Corporate Insolvency Resolution Process qua the Corporate Debtor was initiated by this Hon’ble Tribunal upon the Section 9 Petition filed by the Applicant herein vide order dated 16.11.2021 in CP (IB) No. 525/9/HDB/2019. Thereafter, the Respondent made Public Announcement in Form A on 23.11.2021, and consequently, the Applicant herein filed its claim with the Respondent on 29.11.2021. The entire amount of Rs.4,52,06,027/- was admitted by the Respondent herein.

2.2 It is stated that the Respondent herein filed an application bearing IA.No.196 of 2022 seeking extension of time for publication of Form-G, but the same was dismissed by this Hon’ble Tribunal while admonishing the Respondent for flouting