DIVISION BENCH S-1 (ADDITIONAL LIST)

COURT - I NATIONAL COMPANY LAW TRIBUNAL KOLKATA BENCH KOLKATA C.P. (IB)/217(KB)2023 IA(I.B.C)/186(KB)2026 CORAM: 1. HON’BLE MEMBER(J), SMT. BIDISHA BANERJEE

2. HON’BLE MEMBER(T), CMDE SIDDHARTH MISHRA ORDER SHEET OF THE HEARING ON 06^TH FEBRUARY 2026 Appearance (via video conferencing/physically)

Ms. Manju Bhuteria, Sr. Adv. ] For the Operational Creditor Mr. Ankit Pihi, Adv. ]

Mr. Joy Saha, Sr. Adv. ] For the Corporate Debtor Mr. V.N. Dwivedi, Adv. ]

Ms. Mamta Binani, Adv. ] For the IRP Mr. Devesh Kumar Bhutra, Adv. ] Ms. Ankita Dutta, Adv. ]

O R D E R

1. C.P. (IB)/217(KB)2023 has been filed for a default amount of ₹ 5,10,33,292.25/-. It is submitted that after the matter was reserved for orders and an admission order was already passed, but before the constitution of the CoC, a settlement has been arrived at between the Operational Creditor and the Corporate Debtor. The terms of settlement have been provided along with the petition seeking withdrawal of the company petition and the admission order, as in page 38 onwards of IA(I.B.C)/186(KB)2026. The settlement agreement is as follows:

“1. The Operational Creditor is engaged in the business of specializing in business services, specifically co-working or managed office space solutions.

2. The Corporate Debtor is engaged inter alia in the business of business process outsourcing and consultancy services.

3. In or around January 2021, the Corporate Debtor approached the Operational Creditor for availing business centre and workspace services at Vijaya Building, Unit 2nd and 3rd Floor, 5th Cross Street, Jawaharlal Nehru Road, Kalaimagal Nagar, Ekkatuthangal, Chennai, Tamil Nadu (hereinafter referred to as the said “Chennai Premise”)

4. Pursuant thereto, the Parties entered into a first business cent February, 2021 for the Chennai Premise, under which the permitted to utilize the Chennai Premise along with the allied facilities and services, against payment of agreed consideration. (hereinafter referred to as “First Business Centre Agreement”)

5. Subsequently in July 2021 the Corporate Debtor again approached the Operational Creditor for availing business center and workspace services at Plot Nos R-203 & 204, Thane Trans Creek Industrial Area, District Thane Dhirubhai Lie Science, Sector 8, MIDC Industrial Are4 Rabale, Navi Mumbai, Belapur Rd, behind Maharashtra 400701 (hereinafter referred to as the said “Mumbai Premises”).

6. Pursuant thereto, the Parties entered into a second business center agreement on 31 August, 2021 for the Mumbai Premise, under which the Corporate Debtor was permitted to utilize the Mumbai Premise along with the allied business center facilities and services, against payment of agreed consideration. (hereinafter referred to as “Second Business Centre Agreement”).

7. Pursuant thereto, the Parties entered into a third business center agreement on 14th February, 2022 availing business center and workspace services at C-22A, Sector 57, Noida, Gautam Budh Nagar, Uttar Pradesh-201301 (“Noida Premise”), under which the Corporate Debtor was permitted to utilize the Noida Premise along with the allied business center facilities and services, against payment of agreed consideration. (hereinafter referred to as “Third Business Centre Agreement”). The First Business Centre Agreement, Second Business Agreement along with the Third Business Center Agreement shall be cumulatively referred to as the said “Business Centre Agreements”.

8. The Operational Creditor failed to pay the dues in accordance with the said Business Centre Agreements which culminated into filing of the Company Petition (IB) No. 217/KB/2023 under Section 9 of the Insolvency and Bankruptcy Code, 2016 before the Hon'ble National Company Law Tribunal, Kolkata Bench, for a default amount of Rs. 5,10,33,292.25/- (Rupees Five Crore Ten Lakh ThirtyThree Thousand Two Hundred Ninety-Two and Twenty-Five Paise)

("Claim Amount") from the Corporate Debtor.

9. The Hon’ble NCLT, by order dated 0