NATIONAL COMPANY LAW TRIBUNAL COURT-V, MUMBAI BENCH IN THE MATTER OF Saraswat Co-op. Bank Ltd … Petitioner Vs Sristi Hospitality Private Limited … Respondent U/s 7 of the Insolvency and Bankruptcy Code, 2016 Order Delivered on 06.01.2026 CORAM:

SH. MOHAN PRASAD TIWARI SH. CHARANJEET SINGH GULATI MEMBER (J) MEMBER (T)

Appearance through VC/Physical/Hybrid Mode:

For the Petitioner:

For the Respondent:

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ORDER IA/1662/2025- The above IA/1662/2025 is listed for pronouncement of order. The same is pronounced in open Court, vide a separate order.

Sd/- Sd/-

CHARANJEET SINGH GULATI MOHAN PRASAD TIWARI Member (Technical) Member (Judicial)

//Avdhesh//

NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH, COURT – V IA NO. 1662/2025 Rule 11 of the NCLT Rules, 2016;

IN CP (IB) NO. 518/MB/2022 IN THE MATTER OF The Monitoring Committee of Sristi Hospitality Private Limited Office No. 76B, 7th Floor, Mittal Tower, Free Press Journal Road, Nariman Point, Mumbai - 400 021.

… Applicant IN THE ORIGINAL MATTER OF Saraswat Co-operative Bank Ltd.

… Financial Creditor Versus Sristi Hospitality Pvt. Ltd … Corporate Debtor Order Pronounced on: 06.01.2026 Coram:

Sh. Mohan Prasad Tiwari, Hon’ble Member (Judicial)

Sh. Charanjeet Singh Gulati, Hon’ble Member (Technical)

Appearance through VC/Physical/Hybrid Mode:

For the Chairman of Monitoring Committee: - Mr. Rajan Agarwal (PH)

ORDER IA NO. 1662/2025

1. The present Interlocutory Application dated 19.03.2025 is filed on behalf of the Monitoring Committee of M/s. Sristi Hospitality Pvt. Ltd. (Corporate Debtor), under Rule 11 of the NCLT Rules 2016, submitting the Second Status Report on implementation of the Resolution Plan, as directed by this Tribunal in its order approving the Plan on 12.07.2024. The Monitoring Committee has been directed to file Status Reports periodically, preferably on a quarterly basis.

2. The Monitoring Committee filed the First Status Report vide Interlocutory Application No. 866 of 2025 on 18.11.2024 and came to be heard on 18.02.2025 and the Tribunal disposed of the Interlocutory Application No. 866 of 2025 by taking the Status Report on record.

3. The Applicant submits that the Resolution Plan of the Successful Resolution Applicant (hereinafter referred to as "SRA") approved by the Adjudicating Authority is yet to be implemented, as Company Appeal (AT) (INS) No. 1378 of 2024 and Company Appeal (AT) (INS) No. 1383 of 2024 are sub-judice before the Hon'ble NCLAT. The SRA has clarified that the approved Resolution Plan will be honored once all pending litigation concerning the Resolution Plan is dismissed and there are no further impediments to its implementation.

4. The matter came up for consideration before this Tribunal on

07.07.2025, where the tribunal observed and passed following order: -

“IA/1662/2025 - This IA has been filed by the Chairman of Monitoring Committee of the Corporate Debtor who is the ex-

RP of the Corporate Debtor.

It is stated by the ex-RP present in person that because two litigations are pending before Hon’ble NCLAT, the Plan despite being approved on 12.07.2024 has not been implemented. He further brings to our notice that one of the Appeals is in respect of the IA through which the Plan has been approved by this Tribunal.

The ex-RP in person also brings to our knowledge Clause (ii) at page 10 of the Resolution Plan wherein, it has been mentioned as under:

“In the event, any litigations or legal proceedings are initiated in relation to the Resolution Plan or matters pertaining to the Corporate Insolvency Resolution Process of the Corporate Debtor then the Resolution Applicant shall make the payment of the Total Resolution Amount within 7 (seven) business days from the date the resolution plan attains finality”.

To a pointed query as to how this particular provision in the Resolution Plan is not contingent and falls within the strict timelines of the completion of CIRP process, the ex-RP present in person submits that CoC i