C.P (IB) No. 850/KB/2019 An application under Section 60(5) of the Insolvency and Bankruptcy Code 2016 read with Regulation 32A of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.

IN THE MATTER OF:

INDIAN OVERSEAS BANK ……Financial Creditor VERSUS YUMMZ FOODS PRIVATE LIMITED ……Corporate Debtor IN THE MATTER OF:

PRODYUT FINANCIAL SERVICES LIMITED, having its registered office at Chatterjee International Centre, 13th Floor, Flat A-7, Premises No- 33A, Chowringhee Road, Russel Street, Kolkata-

700071.

……Applicant/Successful Auction Purchaser C.P (IB) No.850/KB/2019 VERSUS MR. SANJEEV JHUNJHUNWALA, Liquidator of Yummz Foods Private Limited.

……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. Shaunak Mitra, Adv. ] For the Applicant Mr. Rahul Parasrampuria, Adv. ]

Ms. Urmila Chakraborty, Adv. ] For the SBOD Mr. Mohit Sharma, Adv. ]

Mr. Pranay Agarwal, Adv. ] For the Liquidator

O R D E R

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

2. The present application I.A.(IB) No.1578/KB/2025 has been filed by Prodyut Financial Services Private Limited, C.P (IB) No.850/KB/2019 (“Successful Bidder”) of the Corporate Debtor Yummz Foods Private Limited (“In Liquidation”) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (“IBC”) read with Regulation 32A of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 seeking following prayers:

a) This Hon’ble Adjudicating Authority be pleased to allow this application;

b) This Hon’ble Adjudicating Auhority be pleased to grant the reliefs and concessions as referred in Para

21 of this application;

c) That this Hon’ble Tribunal may be pleased to grant such other and further reliefs as may be deemed fit and proper by this Hon’ble Tribunal, in the interest of justice.

3. Background of the case:

I. The present application is being preferred by Prodyut Financial Services Private Limited through its Authorized Representative Mr. Amit Rathi (Director), Annexure– A in the liquidation of Yummz Foods Private Limited under section 60(5) of the IBC, 2016 read with Regulation 32A of Insolvency and Bankruptcy Board of India (Liquidation Process Regulations), 2016 seeking

C.P (IB) No.850/KB/2019 appropriate directions for implementing acquisition of the Corporate Debtor as a going concern and seeking reliefs, concessions, waivers and ancillary protections for implementing the acquisition of the Corporate Debtor as a going concern.

II. That the Corporate Insolvency Resolution Process ("CIRP") of the Corporate Debtor was initiated vide order dated 17.11.20222 by this Hon'ble Tribunal. By the order Mr. Ram Ratan Modi was appointed as the Interim Resolution Professional ("IRP") of the Corporate Debtor.

III. Upon failure of the resolution process the Resolution Professional (“RP”) filed an interlocutory application being no 2019 of 2023. Consequently, liquidation was ordered vide Order dated 18.09.20243, and Mr. Sanjeev Jhunjhunwala was appointed as the Liquidator of the Corporate Debtor.

IV. Thereafter, the liquidator assumed the charge of the company and pursuant to Regulation 32 and 33 under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 ("Liquidation Regulations" in short) published the e-auction Notice for Sale of the Assets of the Corporate Debtor and a

2 Annexure-B

3 Annexure-C

C.P (IB) No.850/KB/2019 detailed process memorandum for invitation of bids for e-auction from the prospective bidders on

21.05.20254.

V. Thereafter, the applicant submitted its Bid Application, Annexure- E form along with relevant document on 13.06.2025. The applicant deposited an amount of Rs 40,50,000/- (Rupees Forty Lakhs and Fifty Thousand Only) towards earnest money deposit with the liquidator as per the terms and conditions of Auction Process Document issued.

VI. The online e-aucti