ORDER

Per: Rekha Kantilal Shah, Member (Technical)

1. The Court convened through physical mode.

2. The present application I.A.(IB) No.606/KB/2025 has been filed by Veena Credit and Holding Pvt. Ltd, (“Successful Bidder”) of the Corporate Debtor A.K Power Industries Pvt Ltd (in Liquidation) under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 seeking following prayers:

a) Approve the sale of the Corporate Debtor (in Liquidation) as a going concern with residual assets only (including Flat No.401, Flat No.601 and residua; scrap/inventory);

b) Pass an order granting the reliefs and concessions more fully detailed in schedule hereto;

c) Pass such other and further orders as this Hon’ble Tribunal may deem just, proper and equitable in the interest of justice.

3. Background of the case:

I. The Financial Creditor i.e. Dewesh Auto Creative Services Pvt Ltd filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor (“CD”) i.e. A.K Power Industries Pvt Ltd vide order dated 30.09.2019 the Tribunal admitted the application and appointed Mr. Arun Kumar Khandelia as the Interim Resolution Professional (“IRP”), who was replaced by Mr. Pratim