NATIONAL COMPANY LAW TRIBUNAL COURT ROOM NO. 1, MUMBAI BENCH Item No. 35 CA 204/2025 IVN.P 9/2025 IN CP/3638(MB)2018 CORAM:

SH. PRABHAT KUMAR SH. SUSHIL MAHADEORAO KOCHEY HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL)

ORDER SHEET OF THE HEARING ON 14.01.2026 NAME OF THE PARTIES: UNION OF INDIA V/s INFRASTRUCTURE LEASING AND FINANCIAL SERVICES LTD. & ORS.

Section 241- 242 of Companies Act, 2013 and Rule 11 ________________________________________________________________

ORDER

Adv. Vijay Purohit a/w Adv. Pratik Jhaveri, Adv. Niyati B. and Adv. Sanjeet Ranjan for the Applicant in CA 204/2025 are present. Adv. Rohit Gupta a/w Adv. Shourya K for the Applicant in IVN.P 9/2025 present. Adv. Sidhant Kumar a/w Adv. Manyaa C., Adv. Aniesh Jadhav and Adv. Shyam Singh for the Successful Bidder are present.

CA 204/2025 & IVN.P 9/2025 IN CP/3638(MB)2018

1) This Application has been filed by the Applicant, Infrastructure Leasing &

Financial Services Limited (IL&FS) under Sections 241 and 242 of the Companies Act, 2013 seeking following reliefs: -

a. Allow the instant Application and approve execution of the Deed of Assignment to implement and consummate the assignment of the Loan Facilities in favour of Standard Capital Market Limited against receipt of INR 45,20,00,000/- (Indian Rupees Forty-Five Crores Twenty Lakhs only);

b. Allow the amount accrued m connection with the implementation of the present transaction towards Resolution Process Cost i.e. INR 1,99,20,673/- (Indian Rupees One Crore Ninety-Nine Lakhs Twenty Thousand Six Hundred Seventy-Three Only) inclusive of applicable taxes, to be paid to the Professionals and towards the other expenses as set out at Annexure TT;

c. Allow the balance Consideration Amount to be retained into the relevant bank account, as per the details provided by IL&FS Financial Services Limited, and be utilized in accordance with the provisions of and/or for the purposes permitted under the Resolution Framework, and further that such amount so deposited in the relevant bank shall not be adjusted or set off against any other dues pertaining to any bank/ financial institution;

d. Grant any further reliefs as this Hon’ble Tribunal deems fir and proper in the facts and circumstances.

2) The Applicant has sought approval of this Tribunal to implement and consummate the transaction for assignment of loan facilities granted by IFIN in favor of Collage Group Infrastructure Private Limited (“CG IPL”) and MNT Infratech Private Limited (“MNT”), to Standard Capital Markets Limited ("SCML"), pursuant to the approval of Hon'ble Justice (Retd.) D.K Jain. It is submitted that after the approval of the transaction, a Deed of Assignment to implement and consummate the assignment of the Loan Facilities in favour of Standard Capital Market Limited against receipt of INR 45,20,00,000/- (Indian Rupees Forty-Five Crores Twenty Lakhs only) shall be executed; and appropriation of INR 1,99,20,6731/- accrued in connection with the implementation of the present transaction directions regarding towards Resolution Process Cost be allowed from the consideration, and the balance amount shall be retained into the relevant bank account.

3) On 21 March 2016, CGIPL (as a borrower) and IFIN (as a lender) executed an agreement for extension of a term loan facility of up to INR 90,00,00,000/- (Indian Rupees Ninety Crores only). CGIPL was permitted to utilize Loan Facility 1 towards: (a) for refinancing of existing term loans; (b) for general corporate purpose; (c) for long term working capital requirement; and (d) up to INR 19,00,00,000/- (Indian Rupees Nineteen Crore only), forproject development expenses for CGIPL Project(s).

4) On 22 March 2018, MNT (as a borrower) and IFIN (as a lender) executed an agreement for extension of a term loan facility of up to INR 8,00,00,000/- (Indian Rupees Eight Crores only). This Loan Facility was to be utilized for general corporate purpose. MNT project includes Asteria Bhopal.

5) CGIPL, MNT and IFIN have also executed