S.No.2 VC AND PHYSICAL (HYBRID) MODE ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

27-02-2026 AT 12:15 PM CP(IB) No. 277/7/HDB/2023 AND IA (IBC) 512, 732 & 1935/2025 in CP(IB) No. 277/7/HDB/2023 u/s. 7 of IBC, 2016 IN THE MATTER OF:

JM Financial Asset Reconstruction Company Limited …Financial Creditor AND KOBO Biotech Limited …Corporate Debtor C O R A M:-

SH. RAJEEV BHARDWAJ, HON’BLE MEMBER (JUDICIAL)

SH. SANJAY PURI, HON’BLE MEMBER (TECHNICAL)

O R D E R IA (IBC) 512/2025 Present: Smt. M S Mano Ranjani, Ld. Counsel for the Applicant.

Ms. Sumathi, Ld. Counsel for Respondents No.1 to 3. Orders pronounced, recorded vide separate sheets.

In the result, this application is dismissed.

IA (IBC) 732/2025 Present: Smt. M S Mano Ranjani, Ld. Counsel for the Applicant.

Ms. Sumathi, Ld. Counsel for Respondents No.1 to 3. Orders pronounced, recorded vide separate sheets.

In the result, this application is not maintainable and hence dismissed.

IA (IBC) 1935/2025 Present: Ms. Sumathi, Ld. Counsel for Applicant.

Smt. M S Mano Ranjani, Ld. Counsel for the Respondents Orders pronounced, recorded vide separate sheets.

In the result, this application is dismissed.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Siva/manohar C.P (IB) No.277/7/HDB/2023 [Under Section 60(5) r/w Section 14 and 238 of Insolvency and Bankruptcy Code, 2016]

IN THE MATTER OF M/s. JM FINANCIAL ASSET RECONSTRUCTION COMPANY LTD. v. KOBO BIOTECH LTD.

Between:

Kobo Biotech Limited Represented by its RP Ms Namrata Amol Randeri, R/o. 2l5, Laxmi Plaza, Laxmi Indl Est., New Link Rd, Andheri (W), Mumbai - 400053 …....Applicant AND

1. The Deputy State Tax Officer, Manjeeranagar, Beside BVM School, Sangareddy Bypass, Sangareddy District, Telangana – 502001.

…….Respondent 1

2. The Assistant Commissioner (ST)

Sangareddy-Il Circle, Manjeera Pipeline Road, Sangareddy District, Telangana - 502001 ……..Respondent 2

3. The Joint Commissioner Commercial Taxes, Municipal Complex, 1^st Floor Near, C.P (IB) No.277/7/HDB/2023 Date of Order: 27.02.2026 Tilak Garden, Station Road Nizamabad, Telangana – 503003 ……..Respondent 3 Date of Order: 27.02.2026 Coram:

Hon’ble Shri Rajeev Bhardwaj, Member (Judicial)

Hon’ble Shri Sanjay Puri, Member (Technical)

Counsels Present For Applicant : Ms. Manoranjani, Advocate For Respondents : Mr. Anvesh Reddy, Advocate

1. This Application is filed by Ms. Namrata Amol Randeri, Resolution Professional against the Respondents seeking the direction of this Authority to the Respondents to transfer the auction sale proceeds amounting to Rs. 1,97,80,000/- along with applicable interest to the following Account of the CD in view of the moratorium under Section 14 of the Code:

C.P (IB) No.277/7/HDB/2023 Date of Order: 27.02.2026 Submissions of the Applicant

2. M/s. Kobo Biotech Limited (Corporate Debtor / “CD”), formerly known as Avon Biotech, was admitted into the Corporate Insolvency Resolution Process (CIRP) vide order dated 13.08.2024 passed in C.P. (IB) No.

277/7/HDB/2023.

3. It is submitted that Mr. Ravindra Chaturvedi was initially appointed as the Interim Resolution Professional and was subsequently confirmed as the Resolution Professional. Thereafter, the present Applicant, Mr. Namrata Amol Randeri, replaced Mr. Ravindra Chaturvedi pursuant to order dated 17.01.2025 passed in I.A. (IBC) No. 85 of 2025.

4. It is submitted that the CD is the lawful owner of land admeasuring 21.25 acres (Subject Property) situated in Sy. No. 18, Yawapur Village, Nandikandi Gram Panchayat, Sadashivpet Revenue Mandal, District Medak (now Sangareddy), Telangana. Out of the said extent, 18 acres stand mortgaged to JM Financial, the sole secured creditor.

5. The CD was registered in the Sangareddy Circle under the APGST Act, 1957 for the manufacture of bio-products prior to the introduction of VAT and GST. The CD had also availed a tax incentive scheme known as “Tax Deferment,” intended to promote and support new companies.

6. It is submitted that, as a precondition for availing the Tax Deferment scheme, the CD mortgaged its assets, inc