IA No. 5004 of 2024 & IA No. 5711 of 2023 IN [Under Section 60(5) of the Insolvency Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016]

Ordered on 17.02.2026 IN THE MATTER OF:

NASHIK WORKERS UNION Through its General Secretary, Tukaram Sonje Registration No. 7475 Address: CITU Kaamgar Bhavan, Behind ITI, Khutwadnagar, Nashik – 422008, Maharashtra.

...Applicant Versus

1. GLOBAL INDUSTRIES Through Its Designated Partner Prabhakar Rade, Address: ASG-89, Ashwin Nagar, CIDCO, Nashik – 422009, Maharashtra.

2. MAHARASHTRA INDUSTRIAL DEVELOPMENT CORPORATION Address: Regional Office, Nashik, Udyog Bhavan, 2nd Floor, Near ITI, Trimbak Road, Satpur, Nashik – 422007, Maharashtra.

3. DEPUTY LABOUR COMMISSIONER, NASHIK Address: Udyog Bhavan, Gala No. 18 & 19, 4th Floor, Near ITI Signal, Satpur, Nashik – 422007, Maharashtra.

4. MR. VISHAL BIDWATJIKA Liquidator of Anil Printers Ltd.

Address: 307, Business Classic, 3rd Floor, Chincholi Bunder Road, Near HP Petrol Pump, Malad (West), Mumbai, Maharashtra - 400064 ...Respondents IA No. 5711 of 2023 GLOBAL INDUSTRIES Through Its Designated Partner, Mr. Prabkkahar Rade, Address: ASG-89, Aswin Nagar, CIDCO, Nashik 422009, Maharashtra. …Applicant Versus

1. MAHARASHTRA INDUSTRIAL DEVELOPMENT CORPORATION (MIDC)

Address: Regional Office, Nashik, Udyog Bhavan, 2^nd Floor, Near I.T.I Trimbak Road, Satpur, Nashik – 422007, Maharashtra.

2. THE DISTRICT COLLECTOR, NASHIK Address: Udyog Bhavan, Gala No. 18 & 19, 4^th Floor, Near ITI Signal, Satpur, Nashik – 422007, Maharashtra.

3. MR. VISHAL BIDWATJIKA Liquidator of Anil Printers Limited [Registration No. IBBI/IPA-001/IP-00125/2017-18/10267]

Address: Plot No. B-30, MIDC Ambad, Nashik-422010, Maharashtra. ...Respondents IN THE MATTER OF:

ICICI BANK LIMITED ...Financial Creditor Versus ANIL PRINTERS LIMITED ...Corporate Debtor CORAM:

HON’BLE SHRI ASHISH KALIA, MEMBER (JUDICIAL)

HON’BLE SHRI SANJIV DUTT, MEMBER (TECHNICAL)

Appearances: Hybrid Applicant In IA No.5004/2024: Adv. Sudha Bharadwaj IA No. 5711 of 2023: Adv. Rohit Gupta i/b Agam H. Maloo For Respondent/Liquidator in IA Nos. 5004/2024 & 5711/2023: Adv. Viraj Parikh a/w. U Baria, Ritesh Hegde i/b. Fortis India law Respondent/MIDC in IA No. 5711/2023: Adv. Rohan Agrawal a/w. Adv. Shraddha Dubepati i/b. Jay & Co. COMMON ORDER Per: ASHISH KALIA, [MEMBER (JUDICIAL)]

IA No. 5004 of 2024

1. CONTENTIONS OF APPLICANT:

1.1 The Applicant is a Registered Trade Union [affiliated with the Central Trade Union Federation (CITU)] representing 10 workers of M/s Anil Printers Limited (hereinafter referred to as “Corporate Debtor”). The said workers had been working in the Corporate Debtor since 2006 when it commenced production and had been made permanent in 2009. When the Applicants and other workers organized themselves into a Labour Union, the Corporate Debtor victimized them by issuing false charge-sheets against them and carrying out a prejudiced domestic enquiry to suspend 18 workers. Out of the 18 workers so victimised, 10 of them chose to challenge this unfair Labour practice in the Nashik Labour Court, and eventually succeeded. The Learned Labour Court held that this was unfair Labour practices under the Maharashtra Recognition of Trade Unions and Unfair Labour Practices Act indulged in by the Corporate Debtor, and as a result, it was directed to reinstate the workers and pay back wages to them vide various Orders passed between November, 2021 and December, 2021. The total amount due to these workers on the date of the order passed in their favour (that is without interest) by the said Labour Court is approximately Rs.87,26,000/- (Eighty-seven lakhs, Twenty-six thousand only).

1.2 The Deputy Labour Commissioner/ Respondent No. 3, has issued a Recovery Certificate for these outstanding dues which the Maharashtra Industrial Development Corporation (hereinafter referred to as “MIDC”)/Respondent No. 2 is seeking to enforce against Respondent No. 1 Global Industries to which the Leasehold Plot of the Corporate Debtor has been