Under Section 33 of the Insolvency & Bankruptcy

Code, 2016.

Mr. Rajkumar Mahto

Deemed Resolution Professional of Marut Creative Infra Private Limited

…Resolution Professional/ Applicant

In the matter of

C.P.(IB)/1258(MB)2022

A. V. Corporation ...Financial Creditor

Vs.

Marut Creative Infra Private Limited

(CIN: U45400MH2012PTC238157)

...Corporate Debtor

Pronounced: 18.12.2025

Coram:

SHRI ANIL RAJ CHELLAN SHRI K. R. SAJI KUMAR

HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL)

Appearances: Hybrid

For the Applicant : Adv. Krushi shah

C.P.(IB)/1258(MB)2022

ORDER

1. This Application has been filed by Mr. Rajkumar Mahto, deemed Resolution Professional of Marut Creative Infra Private Limited (Corporate Debtor) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (the Code), seeking an order for the Liquidation of the Corporate Debtor.

2. The submissions made in the application and submitted by the Ld. Counsel for the Applicant are as follows:

a) This Adjudicating Authority vide order dated 10.10.2024 admitted the Company Petition filed under Section 7 of the Code against the Corporate Debtor and appointed the Applicant as the Interim Resolution Professional (IRP).

b) The IRP made public announcement in Form-A dated 17.10.2024, inviting claims from the creditors. The IRP then constituted the Committee of Creditors (CoC) comprising the sole CoC member, i.e., Punjab National Bank, being the Financial Creditor of the Corporate Debtor. Thereafter, on receipt of additional claims, the CoC was reconstituted by inducting the Kalyan Janata Bank Ltd as a CoC member.

c) In the 1^st CoC meeting, the Punjab National Bank informed that it had filed an A.No.569/SA/2021 before the CMM Court Esplande, which is pending adjudication. Further, the CoC member abstained from voting. Therefore, the Applicant continued to act as deemed Resolution Professional of the Corporate Debtor.

d) In the 2^nd CoC meeting, publication of Expression of Interest in Form G was approved, and accordingly, the Applicant published Expression of Interest on 20.12.2024 in Free Press Journal (English Newspaper) and Navkal (Marathi Newspaper). However, no Expression of Interest was received by the Applicant. Therefore, the CoC decided to publish the revised Form-G, C.P.(IB)/1258(MB)2022 extending the last date till 20.01.2025. Despite the extension, no Expression of Interest was received.

e) The Applicant again published a revised Expression of Interest in Form-G dated 25.02.2025 in Free Press Journal (English Newspaper) and Lakshadeep (Marathi Newspaper). A Corrigendum to Form G was also published on 02.03.2025. In response, the Applicant received one Expression of Interest from one Mr. Sonal Sumit Mehta. Accordingly, the Applicant prepared a provisional and final list of prospective resolution applicants (PRAs). Meanwhile, the Applicant filed an Application seeking extension of the CIRP period as per the resolution passed by the CoC on 10.03.2025, which is pending before this Tribunal. The Applicant submits that the PRA submitted no resolution plan as on the last date. In the Circumstances, the CoC passed a resolution as under:

"RESOLVED THAT pursuant to Section 33, sub section (2) of insolvency and Bankruptcy Code, 2016 and other applicable provisions, if any, of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, the Committee of Creditors hereby decide that Marut Creative Infra Private Limited, ("Corporate Debtor") under Corporate Insolvency Resolution Process be liquidated."

"RESOLVED FURTHER THAT the Committee of Creditors hereby directs Mr. Rajkumar Mahto, Deemed Resolution Professional to intimate the Adjudicating Authority the decision of the Committee of Creditors to liquidate the corporate debtor."

"RESOLVED FURTHER THAT the Committee of Creditors hereby authorized Mr. Rajkumar Mahto, Deemed Resolution Professional to seek legal assistance from external legal consultant to give effect to this resolution and the cost incidental to give effect to this resol