IN THE NATIONAL COMPANY LAW TRIBUNAL

AHMEDABAD

DIVISION BENCH

COURT – 1

ITEM No. 301- IA(Plan)/4(AHM)2024 With

ITEM No. 302- IA/861(AHM)2023 in IA/884(AHM)2022

ITEM No. 303 - IA/224(AHM)2024 in CP(IB) 633 of 2018

Order Under Section 30(6) r.w 31 IBC Reg. 39(4) of IBBI (CIRP) Regulations, 2016

r.w Rule 11 of NCLT Rules, 2016

In the matter of IA(Plan)/4(AHM)2024 WITH

Chirag R. Shah RP of ARC Lamicraft Private Limited

….….Applicant

Order Under Section 60(5)(a) IBC r.w Rule 11 of NCLT Rules, 2016

In the matter of : IA/861(AHM)2023 in IA/884(AHM)2022

MP Resources ….Applicant

V/s

Chirag Shah RP For ARC Lamicraft Pvt Ltd & Ors

…Respondent

Order Under Section 12 IBC r.w Rule 11 of NCLT Rules, 2016

In the matter of : IA/224(AHM)2024

Chirag R. Shah RP of ARC Lamicraft Private Limited

Bhavesh Narumalani ….Applicant

Order delivered on: 05/04/2024

Coram:

Mr. Shammi Khan, Hon’ble Member (J) Mr. Sameer Kakar, Hon’ble Member (T)

PRESENT:

For the Applicant : For the Respondent :

ORDER

The case is fixed for pronouncement of order. The order is pronounced in open

Court, vide separate sheet.

-SD- -SD-

SAMEER KAKAR SHAMMI KHAN

MEMBER (TECHNICAL) MEMBER (JUDICIAL)

Rajeev/P.S

BEFORE THE ADJUDICATING AUTHORITY NATIONAL COMPANY LAW TRIBUNAL DIVISION BENCH-I, AHMEDABAD IA(Plan)/4(AHM)2024 with IA/861(AHM)2023 in IA/884(AHM)2022 IA/224(AHM)2024 in CP(IB) 633 of 2018 In the matter of ARC Lamicraft Private Limited IA(Plan)/4(AHM)2024 [An application under Section 30(6) & 31 of the Insolvency and Bankruptcy Code,2016 r/w Regulation 39(4) of the Insolvency and Bankruptcy Board of India, Regulations, 2016 read with Rule 11 of the NCLT Rules, 2016]

CHIRAG RAJENDRAKUMAR SHAH, RP of ARC Lamicraft Private Limited (in CIRP), Having address at:

208, Ratnaraj Spring, Opp. HDFC Bank House, Besides Navnirman Co-op Bank, Navrangpura, Ahmedabad-380009.

… Applicant IA/861(AHM)2023 in IA/884(AHM)2022 [Application under Section 60(5)(a) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of NCLT Rules, 2016]

MP Resources Having its address at:

B/164, Sakar-VII, Nr. Nehru Bridge Corner, Ashram Road, Ahmedabad-380009.

….Applicant/Operational Creditor VERSUS

1. CHIRAG R SHAH, RP for ARC Lamicraft Pvt. Ltd.

Having address at:

208, Ratnaraj Spring, Opp. HDFC Bank House, Besides Navnirman Co-op Bank, Navrangpura, Ahmedabad-380009 ….Respondent No.1

2. SOLE MEMBER OF COC, Union Bank of India, ….Respondent No.2

3. SUN CHEMICALS Resolution Applicant, Having address at:

Shop No.1, Nidhi Park, Near Sadguru Cotton, Rajpar Kanpur Road, Rajpar, Rajkot-363641 ….Respondent No.3 IA/224(AHM)2024 [Application filed under Section 12 of the IBC, 2016 r.w. Rule 11 of the NCLT Rules, 2016 seeking exclusion of period of CIRP process for period of 36 days]

CHIRAG RAJENDRAKUMAR SHAH, RP of ARC Lamicraft Private Limited (in CIRP), Having address at:

208, Ratnaraj Spring, Opp. HDFC Bank House, Besides Navnirman Co-op Bank, Navrangpura, Ahmedabad-380009 ….Applicant Order Pronounced on: 05.04.2024 Appearance:

For the Applicant : Mr. Pratik Thakkar, Advocate a. w. Mr. Chirag R.

Shah present in person (in IA(Plan)/4(AHM)2024)

: Mr. Ishan P Shah, Ld. Adv. (in IA/861(AHM)2023 For the State Tax Dept: Mr. R.V. Jadeja CORAM:

MR. SHAMMI KHAN, MEMBER (JUDICIAL)

MR. SAMEER KAKAR, MEMBER (TECHNICAL)

C O M M O N O R D E R

[PER: BENCH]

1. IA/4(AHM)2024 is filed under Sections 30(6) and 31 of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) read with Regulation 39(4) of IBBI Regulations, 2016 and Rule 11 of the NCLT Rules, 2016 seeking the following prayers:-

a. That this Hon’ble Adjudicating Authority may be pleased to approve the Resolution Plan submitted by the successful RA ie. Sun Chemicals under Section 30(6) along with Section 31 of the Insolvency and Bankruptcy Code, 2016 read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process of Corporate Persons) Regulations, 2016 read with Rule 11 of NCLT Rules, in the interest of justice;

b. That this Hon’ble Adjudicating Authority may be pleased to pass any furthe