SL. No.11

NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH COURT HALL NO: II

Hearing Through: VC and Physical (Hybrid) Mode

CORAM: SHRI RAJEEV BHARDWAJ, HON'BLE MEMBER (J)

CORAM: SHRI SANJAY PURI, HON'BLE MEMBER (T)

ATTENDANCE-CUM-ORDER SHEET OF THE HEARING OF NATIONAL COMPANY LAW TRIBUNAL,

HYDERABAD BENCH, HELD ON 03.12.2025 at 10:30 AM

TRANSFER PETITION NO. IA (IBC)/1587/2025 in CP (IB)

COMPANY PETITION/APPLICATION NO.

No.206/10/HDB/2019

NAME OF THE COMPANY Shivaani Alloys Steel Casting Ltd

NAME OF THE PETITIONER(S) State Bank of India

NAME OF THE RESPONDENT(S) Shivaani Alloys Steel Casting Ltd

UNDER SECTION 10 of IBC

ORDER

IA (IBC)/1587/2025

Orders pronounced, recorded vide separate sheets. In the result, this application

is allowed.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Apoorva

NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH - II [Under Section 35(1)(n) & Section 60(5)(c) of the Insolvency & Bankruptcy Code, 2016 r/w Regulation 45(3)(a) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016] In the matter of M/s. Shivani Alloy Steel Castings Limited:

Between Mr.Madasa Kumar, Liquidator, M/s. Shivani Alloy Steel Castings Limited, IBBI Regn. No. IBBI/IPA-001/IP-P01590/2019-2020/12465

4^th Floor, Plot No. 48, Vaishnovi Enclave, Pet Basheerbad (V)

Quthbullapur (M), Medchal Malkajgiri (D), Telangana -500 055.

…. Applicant/Liquidator In the matter of:

M/s. Shivani Alloy Steel Castings Limited …. Petitioner/Corporate Applicant And State Bank of India, …. Respondent/Financial Creditor Coram:

SHRI. RAJEEV BHARDWAJ, HON’BLE MEMBER JUDICIAL SHRI. SANJAY PURI, HON'BLE MEMBER TECHNICAL Counsels/Parties Present:

For the Petitioners : Mr. Madasa Kumar, Liquidator [PER: BENCH]

ORDER

1. The Company Petition CP No. CP(IB) No.206/10/HDB/2019 was filed by the Liquidator of M/s. Shivani Alloy Steel Castings Limited (Corporate Applicant) under Section 35(1)(n) & Section 60(5)(c) of the Insolvency & Bankruptcy Code, 2016 r/w Regulation 45(3)(a) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 seeking closure of Liquidation Process, which was admitted by this Tribunal vide orders dated 24.04.2016, with the following reliefs:

a) Closure of Liquidation Process: The Corporate Debtor i.e., M/s. Shivani Alloy Steel Castings Ltd as the Corporate Debtor is sold as a going concern along with total assets to M/s. Verity Knowledge Solutions Private Limited in Liquidation as per Regulation 45(3)(a) of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and the Liquidator be relieved from the Liquidation Process.

b) Infusion of Funds: Pass an order or direction that the entire sale consideration paid by the Successful Bidder of the Company as a going concern along with total assets be permitted to be infused into the Corporate Debtor in the form of equity/capital/unsecured loans in the ratio decided by the Successful Bidder/Purchaser.

c) Reconstitution of the Board: Pass an order or direction that the board of directors of the Corporate Debtor should be reconstituted as per Companies Act, 2013 by inducting individuals recommended by the Successful Bidder/Purchaser as Directors of the Corporate Debtor and direct the Registrar of Companies to do all such acts deeds and things that are necessary to appoint the individuals recommended by the Successful Bidder/Purchaser, in order to enable the Company to file relevant returns required by applicable law.

d) Change of Status of CD in RoC Records: Pass an order or direction that the status of the Corporate Debtor in the RoC records as ‘active’

from the status of Liquidation.

e) Extinguishment of past liabilities and consequential actions: pass and order or direction that on and from the Date of Acquisition/Sale certificate date, all the claims or demands made by, or liabilities or obligations owned or payable to any actual or potential creditors, Financial Creditors, Operational Creditors, Workmen & Employees of the Corporate Debtor including the Government dues