ORDER

1. Present application has been filed under section 60(5) of the Insolvency and Bankruptcy Code,2016 and Rule 11 of the NCLT rules, 2016 seeking following reliefs:

a. To allow the present application.

b. Quash the E-Auction proceedings conducted by the Respondent No. 1 on 06/11/2025 in terms of Auction Notice dated 30/10/2025, c. Direct the Respondent No. 1 to permit the Applicant herein to participate in the further auction proceedings for the sale of Asset in question or in the alternative, d. Permit inter-se bidding between the highest bidder and the Applicant herein in terms of Regulation 11 the Schedule I of the IBBI (Liquidation Process) Regulations, 2016, and e. Pass any such order(s) or further relief(s) which this Hon'ble Tribunal deems fit, just and proper in the peculiar circumstances of the case and in the interest of justice.

The averments made by the Applicant in its application are as follows:

2. The Corporate Insolvency Resolution Process ("CIRP") of Gwalior Polypipes Limited ("Corporate Debtor") was initiated by the Hon'ble National Company Law Tribunal, Indore Bench, vide order dated 01.09.2023 passed in CP (IB) No. 06 of 2019, filed by Kotak Mahindra Bank Ltd. u