THE NATIONAL COMPANY LAW TRIBUNAL CHANDIGARH BENCH, CHANDIGARH (Exercising powers of Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016)

IA No. 452/2023 In CP (IB) No. 35/Chd/HP/2018 (Admitted Matter)

Under Section 30(6) of the Insolvency & Bankruptcy Code, 2016 read with Regulation 39 of IBBI (Insolvency Resolution Process of Corporate Persons) Regulations, 2016 In the matter of:

Phoenix Arc Private Limited .…Petitioner-Financial Creditor Versus GPI Textiles Limited ….Respondent-Corporate Debtor And in the matter of:

IA No. 452/2023 Mr. Jalesh Kumar Grover Resolution Professional For GPI Textiles Limited having its registered office at SCO-818, 2nd Floor, NAC Manimajra, Chandigarh-160101 …Applicant Order delivered on: 27.04.2023 Coram: HON’BLE MR. HARNAM SINGH THAKUR, MEMBER (JUDICIAL)

HON’BLE MR. SUBRATA KUMAR DASH, MEMBER (TECHNICAL)

Present:

For the Applicant : Mr. Abhishek Anand, Advocate : Mr. Viren Sharma, Advocate : Mr. Jalesh Kumar Grover, Resolution Professional in person Per: Subrata Kumar Dash, Member (Technical)

JUDGEMENT

IA No. 452/2023 The present application has been filed by Mr. Jalesh Grover, Resolution Professional of GPI Textiles Limited under Section