ORDER

1. IA No. 1017/2023 is filed by the Resolution Professional under Section30(6) & 31 of IBC, 2016 r/w regulation 39(4) of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 & Rule 11 of NCLT Rules, 2016, seeking approval of the resolution plan submitted by M/S ARTI SECURITIES AND SERVICES LIMITED (RESOLUTION APPLICANT) as duly approved by the Committee of Creditors with 82.97% votes in respect of the Corporate Debtor i.e. M/s MAHENDRA INVESTMENT ADVISORS PVT LTD.

2.1 To put precisely, this Tribunal vide order dated 28.04.2021 admitted the Corporate Debtor / M/s Mahendra Investment Advisors Pvt Ltd into Corporate Insolvency Resolution Process (CIRP). Mr. Adinarayana Babji Kota was appointed as Interim Resolution Professional. Consequent to issuance of “Public Announcement” in “The Economic Times” and “Prabhata Velugu” in Hyderabad editions on 05.05.2022, the IRP constituted the Committee of Creditors (COC) on 26.05.2021 and updated the list of creditors on various dates, the latest being06.05.2023.

2.2 The summary of claims received is given below: