In

CP(IB)No.25/KB/2022

CORRIGENDUM ORDER

This order is being issued in terms of the daily order dated 10^th June, 2024 passed

in the matter of KOSONS FOREST PRODUCTS PRIVATE LIMITED .

In the Matter of:

KOSONS FOREST PRODUCTS PRIVATE LIMITED, a company within the meaning of the Companies Act, 2013 and incorporated under the Companies Act,1956, having its

registered office at 107B, Stephen House, 4E BBD Bagh, PS Hare Street Kolkata-700001;

Corporate Applicant

And

Mr. NETAI BASAK, Resolution Professional of Kosons Forest Products Private Limited, having registration number IBBI/IPA-003/IP-N00327/2020-2021/13421 and having his office

at Flat No.3B, Srijoni Apartmet 34T/3 N. K. Ghosal Raod, Kasba, Kolkata-700042;

Applicant/Resolution Professional

Coram:

Bidisha Banerjee, Member (Judicial)

Balraj Joshi, Member (Technical)

Appearances: (via video conferencing/physically) 1. Ms. Namrata Basu, Adv. ] For the Applicant

2. Mr. Netai Basak, RP

Order

1. This Court convened through hybrid mode.

2. This IA has been filed by Applicant seeking modification of the order dated 22^nd

December, 2023 vide which a Resolution plan for the Corporate Debtor was approved

by this Adjudicating Authority.

3. It has been contended that subsequent to filing of the Resolution plan, a modified

resolution plan was also submitted which was also attached in the application for

In CP(IB)No.25/KB/2022 approval thereof, but due to oversight the contents of the original plan have got incorporated in the order, instead of those in the modified resolution plan.

4. We have examined modified plan vis-a-vis the references given in the IA and direct the following amendments to the order dated 22^nd December, 2023 :

a. At Paragraph-17 of internal page-6 of the said order, following lines shall be deemed to be struck off “during the submission of EoI and then converted into Earnest Money Deposit and the said Earnest Money Deposit was converted into Performance Bank Guarantee after approval of the Resolution Plan”.

b. At Paragraph-22 including the Tables therein shall be amended to read as under:

“22. The Applicant in clause 5.10⁵of the Resolution Plan read with the amendment dated 27.02.2023, has mentioned about the Resolution Plan Outlay and means of finance with are as follows:-

Total Amount Cost of Plan (in Lakh)

Cost to be incurred CIRP Cost (To be paid As per Actuals) 20.00 Payment to Secured Financial Creditors in full & final 60.00 Settlement (full value and not NPV)

Payment to Unsecured Financial Creditors in full & -

final Settlement (full value and not NPV)

Payment to Government Dues in full & final Settlement 1.40 (full value and not NPV)

Payment to Other Operational Creditors in full & final 0.10 Settlement (full value and not NPV)

Sub-Total 81.50 Total Payment to Existing Financial & Operational Creditors 81.50 Add: Capital Expenditure to Restart the Unit 25.00 Add: Working Capital 15.00 TOTAL (Rs. In Lakh) 121.50 In CP(IB)No.25/KB/2022

5. As far as the corrections sought at Page Nos.95 and 96 of the subject IA are concerned no reference could be found from the record available whereby the amount shown as Rs. 1,02,67,602.00/- relating to the claim of Ministry of Commerce & Industry office of the Dy. Director General of Foreign Trade, Guwahati, would require to be changed to Rs.35,30,816/- and therefore no amendment can be made in respect of this figure.

6. Rest of the contents of the order dated 22^nd December 2023 shall remain same.

7. IA (IB) No. 503/KB/2024 in CP (IB) No. 25/KB/2022 shall stand disposed of accordingly.

8. File be consigned to record.

Balraj Joshi Bidisha Banerjee Member (Technical) Member (Judicial)

Order signed on the 02nd Day of August, 2024.

BD COURT-I C.P.(IB)/25(KB)2022 IA(I.B.C)/503(KB)2024 CORAM: 1.HON’BLEMEMBER(J), SMT. BIDISHABANERJEE

2.HON’BLEMEMBER(T), SHRIBALRAJ JOSHI ATTENDANCE-CUM-ORDER SHEETOFTHEHEARING ON10THJUNE 2024 INTHEMATTEROF KOSONSFORESTPRODUCTSPRIVATELIMITED UNDERSECTION IBCUNDERSEC10 Appearancevia video conference/physically Ms.Namrata Basu, Adv. ]For RP Mr. Netak