S.No.1 IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH – II VC AND PHYSICAL (HYBRID) MODE ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

21-01-2026 AT 10:30 A.M. IA (IBC) (Plan)/09/2025 in Company Petition IB/187/7/HDB/2020 U/s 7 of IBC IN THE MATTER OF:

Axis Bank Ltd …Petitioner AND Raigarh Champa Rail Infrastructure Pvt Ltd … Respondent C O R A M:-

SHRI. RAJEEV BHARDWAJ, HON’BLE MEMBER (JUDICIAL)

SHRI. SANJAY PURI, HON’BLE MEMBER (TECHNICAL)

O R D E R

IA (IBC) (Plan)/09/2025 Orders pronounced, recorded vide separate sheets. In the result, this IA (IBC)

(Plan)/09/2025 is approved.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Apoorva IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH, COURT - II in CP(IB) NO. 187/7/HDB/2020 [U/s. 30(6) and 31 of the I&B Code, 2016 r/w Regulation 39(4) of the IBBI (IRPCP) Regulations, 2016]

In the matter of Axis Bank Limited vs. M/s. Raigarh Champa Rail Infrastructure Private Limited Mr. V. Venkatachalam Resolution Professional of M/s. Raigarh Champa Rail Infrastructure Private Limited and on behalf of the Committee of Creditors of M/s.Raigarh Champa Rail Infrastructure Private Limited R/o. 12-13-205, Street No.2, Tarnaka Secunderabad – 500 017 .... Applicant Order Pronounced on : 21.01.2026 Coram:

Hon’ble Shri Rajeev Bhardwaj, Member (Judicial)

Hon’ble Shri Sanjay Puri, Member (Technical)

Parties / Counsels Present:

For the Applicant : Mr. Y. Suryanarayana, Advocate For the COC : Ms. Spandana Biswal, Advocate [PER : BENCH]

ORDER

1. The instant Application bearing IA (IBC) (Plan) 9/2025 has been filed on behalf of the Resolution Professional (RP) and Committee of Creditors (COC) of the Corporate Debtor, M/s. Raigarh Champa Rail Infrastructure Private Limited (CD), under Section 30(6) and 31(1) of IBC, Insolvency & Bankruptcy Code, 2016, r/w Regulation 39(4) of the applicable Regulations², seeking, inter alia, approval of the Resolution Plan, Resolution Plan dated 07.11.2025, submitted by the Successful Resolution Applicant, M/s.JSW Energy Limited (JSW/SRA) duly approved by the Committee of Creditors (COC) in its

54^th meeting held on 19.11.2025 with 100% voting share.

2. The Company Petition CP(IB) No.187/7/HDB/2020 filed by Axis Bank Limited, the Financial Creditor (FC), was admitted by this Authority u/s. 7 of IBC, vide Order dated 01.01.2021 (Admission Order ordering commencement of CIRP, Corporate Insolvency Resolution Process against the CD, by appointing Mr. Sumit Binani as the Interim Resolution Professional (IRP), who was confirmed as Resolution Professional (RP) by the COC in the 1^st meeting held on 03.02.2021. Subsequently, Mr. V. Venkatachalam, the Applicant herein was replaced as RP by this Authority, vide Order dated

01.07.2021 in IA 298/2021.

2 IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

3. Prior to the Admission Order, on 29.09.2020, the FC had assigned its debt qua the CD to M/s. Aditya Birla ARC Limited (ABAL).

4. Public Announcement of the commencement of CIRP was made in Form-A on 08.01.2021 in the newspapers, inviting claims from the creditors of the CD by fixing the last date for submission of claims as

21.01.2021.

5. After collating all the claims received and determining the financial position of the CD, initially, the COC was constituted on 27.01.2021 with the following Financial Creditors:

1. Aditya Bira ARC Limited (ABAL

2. Canara Bank (Canara

3. ASREC (India) Limited (ASREC

4. Union Bank of India (UBI

6. The RP conducted a total of Fifty Four (54) meetings of the COC during the CIRP.

7. The RP invited Expression of Interests (EOI) from Prospective Resolution Applicants (PRAs), by issuing Form-G on 17.03.2021 and extended the last date for submission of EOIs from time to time and finally, it was fixed as 05.09.2021. Thereafter, the RP invited revised EOIs from PRAs by issuing Form-G on 24.08.2021 and fixed the last date for submission of EOIs till 05.09.2021. The RP issued the provisional list of PRAs on 13.09.2021 and the final list on 28.09.2021.

8. In response to the