In

C.P (IB) No. 14/KB/2023

IN THE MATTER OF:

S.K. Agarwala & Co.

……Operational Creditor

VERSUS

KEJRIWAL SUGAR AGENCIES PRIVATE LIMITED

……Corporate Debtor

AND

Application under section 30(6) and section 31 of the Insolvency & Bankruptcy Code, 2016 read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate

Persons) Regulations, 2016 for approval of Resolution Plan

In C.P.(IB) No. 14/KB/2023 IN THE MATTER OF:

Mr. Rajnandan Kumar, Resolution Professional of Kejriwal Sugar Agencies Private Limited …… Applicant / Resolution Professional CORAM:

Shri Labh Singh : Hon’ble Member (Judicial)

Ms. Rekha Kantilal Shah : Hon’ble Member (Technical)

APPEARANCES:

Ms. Tanvi Luhariwala, Adv. ] For RP Mr. Rajnandan Kumar, Adv. ] RP in Person Date of Pronouncement: 16/12/2025 In C.P.(IB) No. 14/KB/2023 Table of Contents In C.P.(IB) No. 14/KB/2023

O R D E R

Per: Rekha Kantilal Shah, Member (Technical)

1. This Application has been preferred by Mr. Rajnandan Kumar, Resolution Professional (“RP”) of the Corporate Debtor, Kejriwal Sugar Agencies Private Limited under section 30(6) and 31 of the IBC, 2016 (for brevity “IBC”) and read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person) Regulation, 2016 (for brevity “CIRP Regulation”) for submission and final approval of the Resolution Plan submitted by the Resolution Applicant i.e., Sakuma Exports Limited.

2. The Committee of Creditors (“CoC”) at its 13^th meeting convened on 25.03.2025 and voting concluded on 26.04.2025, with 74.04% voting share, approved the revised Resolution Plan dated 19.03.2025, annexed at pages as Annexure Z, Pgs. 328-411 to the application, submitted by Sakuma Exports Limited, hereinafter referred to as “Successful Resolution Applicant” (“SRA”). Thereafter, the RP/Applicant issued Letter of Intent (“LoI”) dated 26.04.2025 , annexed at page nos. 412-414, requiring the SRA to submit the Performance Security which provided on

10.06.2025 for Rs. 16,45,100/-.

In C.P.(IB) No. 14/KB/2023 The Particulars of the Corporate Debtor

3. The Corporate Debtor- Kejriwal Sugar Agencies Private Limited (U51909WB2010PTC142319) was established on 16^th February 2010 in compliance with the Companies Act, 1956, and is registered with the Registrar of Companies, Kolkata. The company’s registered office is located at 55/1A, Strand Road Vinayak Complex, 3^rd Floor, Kolkata-700006.

Initiation of Corporate Insolvency Resolution Process

4. In 2023, S.K. Agarwala & Co, being the Operational Creditor had filed a company petition bearing CP IB. No. 14/KB/2023 under section 9 of the Insolvency and Bankruptcy Code, 2016 ("IBC") for initiating Corporate Insolvency Resolution Process ("CIRP") with respect to Kejriwal Sugar Agencies Private Limited ("Corporate Debtor"), for an alleged default amount of Rs. 2,05,57,612/- (Rupees Two Crores Five Lakhs Fifty Seven Thousand Six Hundred and Twelve Only).

5. This Tribunal, Kolkata Bench, by an order dated 22nd April, 2024, admitted the Corporate Debtor into CIRP. Further, vide the same order, the Tribunal also appointed Rajnandan Kumar as the Interim Resolution Professional ("IRP") in the said matter.

In C.P.(IB) No. 14/KB/2023 Publication

6. On 26^th April, 2024, the IRP made Public Announcement in Form-

A, in Business Standard (English) and Aajkaal (Bangla) in West Bengal in accordance with Section 13 of IBC inter alia, calling upon the creditors of the Corporate Debtor to submit their claims with proof to the IRP/Resolution Professional ("RP").

Constitution of Committee of Creditors

7. On 13th May, 2024, the IRP filed an application, to bring on record before this Tribunal, the List of Creditors and the IRP’s report certifying the Constitution of the Committee of Creditors ("СОС"). As per the IRP’s report certifying Constitution of CoC dated 13.05.2024 was constituted as follows-:

In C.P.(IB) No. 14/KB/2023 Collation of Claims

8. As per the latest claim as on 11.01.2025 (Vers