Operational Creditors can appeal orders impacting their claims, but must follow procedural protocols for obtaining relevant documents.

NATIONAL COMPANY LAW TRIBUNAL

COURT ROOM NO. 1,

MUMBAI BENCH

Item No. 09

IA(I.B.C)/2540( MB)2025 IN C.P. (IB)/3528(MB)2018

CORAM:

SH. PRABHAT KUMAR JUSTICE VIRENDRASINGH BISHT (Retd.) HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL)

ORDER SHEET OF THE HEARING ON 02.07.2025

NAME OF THE PARTIES: PUNJAB NATIONAL BANK V/s VADRAJ

CEMENT LTD

Section 7, 60(5) & 66(1) of Insolvency and Bankruptcy Code, 2016

________________________________________________________________

ORDER

IA(I.B.C)/2540( MB)2025 IN C.P. (IB)/3528(MB)2018

1. Learned Counsel, Shilpa Chohan appeared for the Applicant through VC. 2. This Application has been filed by the Divyesh Transport, Applicant no. 1

and Tushar Engineering, HUF, Applicant no. 2. The Applicant no. 1 abovenamed is proprietorship and Applicant No. 2 is HUF, both are represented through Chhotubhai Ramubhai Patel who had filed their claim before the Resolution Professional of Vadraj Cement Limited seeking

following prayers;

a. That this Hon'ble Tribunal be pleased to direct the registry of this

Hon'ble Tribunal to furnish to the Applicants herein or their Advocates, a two certified copy of the Order dt. 01.04.2025 passed by this Hon'ble Tribunal in Interlocutory Application (IB) (Plan)/

11/2025 in Company Petition (IB) No. 3528 of 2018.

b. Any other order as this Hon'ble Tribunal deems fit and proper in

the interest of justice.

3. The CIRP was initiated vide order dated 02.025 against the present Corporate Debtor. After the commencement of the CIRP, the Applicants had filed their claim with the RP on 12.02.2024. The Applicant No. 1 had filed their claim through Form - B for a claim of Rs. 2,99,87,605/ - (Rupees Two Crores Ninety Nine Lakhs Eighty Seven Thousand Six Hundred and Five Only) and the Applicant No.2 had filed their claim through Form - B for a claim of Rs. 1,09,74,486/ - (Rupees One Crore Nine Lakhs Seventy Four Thousand Four Hundred and Eighty Form Only).

4. Thereafter, the RP filed Interlocutory Application (IB) (Plan)/ 11/2025 before this Hon'ble Tribunal under Section 30(6) and Section 31 of the Code seeking approval of the Resolution Plan submitted by the SRA. That Applicants state that thereafter, this Tribunal was allowed Interlocutory Application (IB) (Plan)/ 11/2025 filed by the RP for approval of the Resolution Plan vide Order dt. 01.04.2025 and the Resolution Plan submitted by the SRA came to be approved by this Tribunal. Being aggrieved by the said Order dt. 01.04.2025, the Applicants are desirous of challenging the said Order before the Hon'ble National Company Law Appellate Tribunal at New Delhi by filing a Company Appeal. Accordingly, it is stated that, for the said purpose, the Applicants would require a certified copy of the said Order dt. 01.04.2025.

5. We note that Section 61 of I B Code provides that any person aggrieved by the order of the Adjudicating Authority under this part may prefer an appeal to the National Company Law Appellate Tribunal. The Applicants are stated to be Operational Creditors, whose claims were admitted in the CIRP process by the Resolution Professional and those claims are to be settled in accordance with the approved Resolution Plan, a certified copy of which is sought vide this Order, as applicants are contemplating to file an appeal against the said Order, claiming to be aggrieved by the Order dated 01.04.2025. Though, the Applicants are interested parties in the said Plan, however, the Applicant can file its appeal against the Order dated 01.04.2025 and in our considered view, the certified copy of the approved Resolution Plan cannot be supplied by this Tribunal. In case, the copy of said Plan is required by the appellate authority, the Applicant is directed to obtain appropriate directions form the Appellate Authority for provision of certified copy of the approved Resolution Plan. Nonetheless, the Resolution Professional shall have to be made necessary party in the said Appeal and if required by Hon’ble Appellate Tribunal a copy thereof shall have to suppli