S.No.6

IN THE NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH – 1

VC AND PHYSCIAL (HYBRID) MODE

ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

13-12-2024 AT 10:30 AM

CP(IB) No. 25/7/HDB/2022

AND

IA (IBC) (Plan) 24/2024 & IA (IBC) 1473/2024 in

CP(IB) No. 25/7/HDB/2022

u/s. 7 of IBC, 2016

IN THE MATTER OF:

Allied Hi-tech Industries Pvt Ltd …Financial Creditor

AND

Karvy Data Management Services 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) (Plan) 24/2024

Compliance affidavit filed. Hence, this resolution plan is approved, subject to the

terms and conditions mentioned therein.

Accordingly, this application is allowed and disposed of

IA(IBC)1473/2024

In the light of the undertaking given in IA(IBC) (Plan) 24/2024, this application

stands disposed of.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Siva/Swapna

NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH-I IN THE MATTER OF:

M/S ALLIED HI-TECH INDUSTRIES PRIVATE LIMITED VS.

KARVY DATA MANAGEMENT SERVICES LIMITED Filed by:-

SMT. SUHASINI ASHOK B Interim Resolution Professional Functioning as Resolution Professional Karvy Data Management Services Limited Having office at Karvy Magnum, Aika Plaza, 100 Ft. Road, Beside Srinivas Steels, Ayyappa Society, VIP Hills, Silicon Valley, Madhapur, Hyderabad, Telangana-500081 … APPLICANT /

RESOLUTION PROFESSIONAL Date of order:13.12.2024 Coram:

Dr. N. Venkata Ramakrishna Badarinath, Hon’ble Member (Judicial)

Shri Charan Singh, Hon’ble Member (Technical)

Appearance:

For Applicant: Shri D.V. Sitaram Murthy, Senior Advocate assisted by Shri Bendi Raviteja, Mr V. Vineeth Reddy, Ms. Udita M, Advocates DOO: 13.12.2024

1. The present Application is filed by the Resolution Professional i.e. the Applicant herein (hereinafter referred to as the “Resolution Professional” or the “Applicant”) under Section 30(6) read with Regulation 39 (4) of IBBI (CIRP) Regulations 2016, seeking approval of the Resolution Plan submitted by Consortium of Sangamam Power Projects Private Limited, Sirmour Small Hydro Power Private Limited and Sharp Ventures Private Limited (Successful Resolution Applicant/ SRA), as approved by the Committee of Creditors (COC) with 85.29% of voting share.

2. FACTS AS AVERRED IN THE APPLICATION: -

2.1 ADMISSION OF THE PETITION AND APPOINTMENT OF INTERIM RESOLUTION PROFESSIONAL / RESOLUTION PROFESSIONAL:

• Karvy Data Management Services Limited (KDMSL) is undergoing Corporate Insolvency Resolution Process (CIRP) by virtue of order dated 15.09.2023 passed in CP(IB) No. 25/7/HDB/2022 by this Tribunal, filed by M/s Allied Hi-Tech Industries Private Limited/Financial Creditor under Section 7 of Insolvency & Bankruptcy Code (IBC). Mr. Kranthi Kumar Kedari was appointed as Interim Resolution Professional who was later replaced by the Applicant herein on 20.09.2023.

• Subsequently, the Erstwhile Management of the Corporate Debtor filed an Appeal against the CIRP Admission Order dated 15 September 2023 and 20 September 2023 vide Company Appeal (AT)(Ins) No. 329 of 2023 and the same is pending before Hon’ble NCLAT and no interim stay was granted in the said Appeal.

DOO: 13.12.2024

2.2 BRIEF OVERVIEW OF THE CIRP PROCESS • ISSUE OF PUBLIC ANNOUNCEMENT The IRP issued Public Announcement in FORM – A in Business Standard (English), Mana Telangana (Telugu), Navashakti (Marathi) Mumbai, Business Standard (Hindi) New Delhi, Nav Bharat In Gwalior on 23.09.2023 as per Section 15 of Insolvency and Bankruptcy Code, 2016 Read with Regulation 6 of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, inviting claims from the creditors.

• CONSTITUTION OF COC:

The Committee of Creditors (COC) was constituted on 13.10.2023 and upon notice of one of the related party being wrongly included, the Committee of Creditors have been reconstituted on 14.10.2023. It is further stated that the Applicant has further reconstituted the COC as and when new claims were received and verified. The latest