ORDER

Per: Kuldip Kumar Kareer, Member Judicial

1. The present Interlocutory application is filed by Mr. Hasti Mal Kachhara the Applicant, Resolution Professional of Steamline Industries Limited, the Corporate Debtor seeking approval of the resolution plan under section 30(6) of the Insolvency and Bankruptcy Code, 2016 (Code) read with Regulation 39 (4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 jointly submitted by Invent Assets Securitisation & Reconstruction Company Private Limited and GMT Pipes & Tubes Private Limited. The Plan was duly approved by 100% of the Committee of Creditors (CoC).

2. The Applicant submits that the Financial Creditor, Oriental Bank of Commerce, initiated the Corporate Insolvency Resolution process (CIRP) against the Corporate Debtor under Section 7 of the Code on 13.03.2019 and appointed Mr. Hasti Mal Kachhara as the Interim Resolution Professional (IRP).

3. The IRP made public announcements on IBBI website on 09.04.2019 and in the newspapers viz Free Press Journal and Navshakti on 10.04.2019.

4. There were two Financial Creditors and the total claim admitted of the Financial Credit