SL. No.2

NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH COURT HALL NO: II

Hearing Through: VC and Physical (Hybrid) Mode

CORAM: SHRI. RAJEEV BHARDWAJ – HON’BLE MEMBER (J)

CORAM: SHRI. SANJAY PURI - HON’BLE MEMBER (T)

ATTENDANCE-CUM-ORDER SHEET OF THE HEARING OF NATIONAL COMPANY LAW TRIBUNAL,

HYDERABAD BENCH, HELD ON 26.03.2025 at 10:30 AM

TRANSFER PETITION NO.

IA (IBC)(Plan)/14/2024, IA (IBC)/1981/2024 in COMPANY PETITION/APPLICATION NO.

Company Petition IB/320/7/HDB/2022

NAME OF THE COMPANY Manjeera Constructions Ltd NAME OF THE PETITIONER(S) Catalyst Trusteeship Limited NAME OF THE RESPONDENT(S) Manjeera Constructions Ltd

UNDER SECTION 7 of IBC

ORDER

IA (IBC)(Plan)/14/2024

Orders pronounced, recorded vide separate sheets. In the result, the

IA (IBC)(Plan)/14/2024 is approved.

IA (IBC)/1981/2024

Orders pronounced, recorded vide separate sheets. In the result, the

IA (IBC)/1981/2024 is dismissed.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Vamsi

IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH, COURT - II IA (IBC) (Plan) No.14 OF 2024 in CP(IB) NO. 320/7/HDB/2022 [U/s. 30(6) and Section 31(1) of the I&B Code, 2016 r/w Regulation 39(4) of the IBBI (IRPCP)

Regulations, 2016] In the matter of M/s. Catalyst Trusteeship Limited vs. M/s. Manjeera Constructions Limited Between:

Mr. Birender Kumar Agrawal Resolution Professional of M/s.Manjeera Constructions Limited

913, Corporate Annex, Sonawala Road Near Udyog Bhawan, Goregaon (East)

MUMBAI – 400 063 Maharashtra .... Applicant And M/s. Valentis Laboratories Private Limited in consortium with Surya Treasure Island Private Limited Plot No.31, 32, 39 & 40, Phase-2 IDA, Pashamylaram Andhra Pradesh, Telangana, India, 502 307.

… Proforma Party Order Pronounced on : 26.03.2025 Coram:

Shri Rajeev Bhardwaj, Hon’ble Member (Judicial)

Shri Sanjay Puri, Hon’ble Member (Technical)

Parties / Counsels Present:

For the Applicant : Mr. Abhijeet Sinha, Senior Counsel alongwith Mr. VVSN Raju, Advocate [PER : BENCH]

ORDER

1. The instant Application bearing IA (IBC) (Plan) No.

14/2024 has been filed on behalf of the Resolution Professional of the Corporate Debtor (CD) M/s Manjeera Constructions Limited, under Section 30(6) and 31(1) of IBC1, r/w regulation 39(4) of the applicable Regulations2 seeking approval of the Resolution Plan, Resolution Plan dated 19.04.2024, submitted by the Successful Resolution Applicant (SRA) M/s Valentis Laboratories Private Limited in consortium with Surya Treasure Island Private Limited (Consortium of VLPL & STIPL) duly approved with 91.64% voting share by the Committee of Creditors (COC) at their 12th meeting held on 10.06.2024 and e-voting concluded on 13.06.2024.

2. The Company Petition CP(IB) No. 320/7/HDB/2022 filed by M/s Catalyst Trusteeship Limited, the Financial Creditor (FC) was admitted by this Authority u/s 7 of IBC, vide Order dated 18.07.2023 (Admission Order) ordering commencement of CIRP, Corporate Insolvency Resolution Process against M/s Manjeera Constructions Limited, the CD by appointing Mr Vamsi Kambhammettu as an Interim Resolution Professional (IRP), who was subsequently replaced by the Applicant, Mr.Birendra Kumar Agrawal, as Resolution Professional (RP), in the 1st COC Meeting held on 16.08.2023.

1 Insolvency & Bankruptcy Code, 2016

2 IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

3. Public Announcement⁵ of the commencement of CIRP was made in Form-A on 21.07.2023 in Financial Express, English Daily Newspaper and in Mana Telangana, Telugu Daily Newspaper, inviting claims from the creditors of the CD by fixing the last date for submission of claims as 01.08.2023. In response, claims were received from the Financial Creditors.

4. After collating all the claims received from the creditors from time to time and determining the financial position of the CD, the RP constituted the COC comprising of the following Financial Creditors:

5 Public Announcement _ as Annexure-II @ Pgs. 39-40 of the Application

5. Aggrieved by the Admission Order, Mr. G.Yoganand, suspended director