In T.P No. 24/KB/2023 A Petition under Section 433, 434 and 439 of the Companies Act, 1956.

IN THE MATTER OF:

M/S JYOTI UDYOG, a proprietorship firm represented by its Proprietor Sharad Kumar Bahety son of Shree Gopal Bahety having its office at 1, Dacres Lane, Kolkata- 700069.

……Petitioner VERSUS UNIT CONSTRUCTION COMPANY PRIVATE LIMITED, a company incorporated under the provisions of the Companies Act, 1956, and having its registered office at Unit House, P-40, Block- B, New Alipore Kolkata- 700053.

……Corporate Debtor AND An Application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the National Company Law Tribunal Rules, 2016.

T.P No. 24/KB/2023 IN THE MATTER OF:

INVENT ASSETS SECURITISATION AND RECONSTRUCTION PRIVATE LIMITED, acting in its capacity as trustee of INVENT/1617/IDBI/S96 Trust and INVENT/1516/S77 Trust, having its registered office at- Bakhtawar, Suite- B, Ground Floor, Backbay Reclamation Scheme

229, Nariman Point, Mumbai- 400021.

……Applicant VERSUS UNIT CONSTRUCTION COMPANY PRIVATE LIMITED, a company incorporated under the provisions of the Companies Act, 1956, and having its registered office at Unit House, P-40, Block- B, New Alipore Kolkata- 700053.

……Respondent Date of Pronouncement: 12.02.2026 Coram:

Shri. Labh Singh, Member (Judicial)

Ms. Rekha Kantilal Shah, Member (Technical)

Appearances: (via Physical / Hybrid Mode):

Mr. D.N. Sharma, Adv. ] Mr. Santosh Kr. Ray, Adv. ]

Ms. Zeba Khan, Adv. ] For the Applicant Ms. Ashmita Lohia, Adv. ] Ms. Utkarshika, Adv. ]

T.P No. 24/KB/2023 Ms. Tanushree Dasgupta, Adv. ]

Ms. Aishwarya Chowdhury, Adv. ] For Official Liquidator

O R D E R

Per: Rekha Kantilal Shah, Member (Technical) 1. The Court convened through physical mode.

2. This present application is being filed under Section 60(5)

of the Insolvency and Bankruptcy Code, 2016 (hereinafter may be referred as “IBC”) read with Rule 11 of the National Company Law Tribunal Rules, 2016 (hereinafter may be referred as “NCLT Rules”) by Invent Assets Securitisation And Reconstruction Private Limited seeking to initiation of Corporate Insolvency Resolution Process (“CIRP”) against M/s Unit Construction Company Private Limited (“Corporate Debtor”).

3. The Applicant is seeking the following reliefs:

a. This Hon’ble Tribunal may be pleased to initiate Corporate Insolvency Resolution Process Insolvency under the and Bankruptcy Code, 2016 of Unit Construction Company Pvt Ltd;

b. This Hon’ble Tribunal may be pleased to appoint Mr.

Santosh Bhatia having IBBI/IPA-001/IP P01750/20192020/12668 as the Interim Resolution T.P No. 24/KB/2023 Professional of the Corporate Debtor/Unit Construction Company Pvt Ltd (in liquidation);

c. The Official Liquidator, High Court Calcutta be discharged as liquidator of Unit Construction Company Pvt Ltd and be directed to make over all documents, records and handover possession of all the movable and immovable properties of the Corporate Debtor to the incoming Interim Resolution Professional;

d. The provision for making and compliant of Insolvency Bankruptcy Code in TP No. 24 of 2023 be dispensed with;

e. Such further Order/Orders and/or direction/directions be passed as this Hon’ble Tribunal may deem fit and proper;

4. Background of the Case

4.1 An application was filed against the Corporate Debtor for winding up before the Hon’ble High Court at Calcutta being Company Petition No. 45 of 2013 by one of the creditors of the Corporate Debtor being Jyoti Udyog. The said Company Petition was admitted by the Hon’ble High Court at Calcutta vide its order dated 07.05.2013.

4.2 In the said Company Petition No. 45 of 2013, the Hon’ble High Court at Calcutta by an Order dated T.P No. 24/KB/2023

25.06.2014, Annexure- A-3, inter alia, directed the said Corporate Debtor to repay certain sums of money, in default whereof winding up of the said company was to follow and, in such situation, the Official Liquidator was granted liberty to forthwith take possession of the books, records and documents as also th