S.No.5 VC AND PHYSICAL (HYBRID) MODE ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

17.04.2026 AT 10:30 A.M. IA (IBC)/1484/2025 in CP (IB) No.14/7/HDB/2020 U/s 7 of IBC IN THE MATTER OF:

Nune Chiranjeevi Nagaraju & another …Petitioner AND Payism Technologies India Pvt Ltd …Respondent C O R A M:-

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

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

O R D E R IA (IBC)/1484/2025 Orders pronounced, recorded vide separate sheets. In the result, the IA (IBC)/1484/2025 is dismissed.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Vamsi IN CP (IB) No. 14/7/HDB/2020 BETWEEN Mr Uday Kumar Pallepangi R/o Plot No. 36, 4th Floor, Nandi Hills, Jubilee Hills, Hyderabad — 500 034 ...Applicant AND

1. Pavan Kankani Erstwhile Resolution Professional of Corporate Debtor

302, 3rd Floor, City Center, 3-6-140/A, Himayat Nagar, Hyderabad, Telangana -500029

2. Kasi Srinivas Erstwhile Liquidator of Corporate Debtor

1-2-37/4b, Flat No 4b, Jains Bhavani Residency, St No 3, Kakatiya Nagar, Habsiguda, Hyderabad, Telangana, 500007 ...Respondents Date Of Order: 17.04.2026 CORAM:

Shri Rajeev Bhardwaj, Hon’ble Member (Judicial)

Shri Sanjay Puri, Hon’ble Member (Technical)

Counsels present:

For the Applicant : Mr. T. Vijay Kumar Reddy and Ms. Aishwarya C (Advocates)

For Respondent No.1: Mr. V. Ravi Kumar & Ms. Kadiyala Laxmi Prasanna (Advocates)

For Respondent No.2 : Mr. Kasi Srinivas (Liquidator himsellf)

1. The present application has been filed by Mr. Uday Kumar Pallepangi, a promoter-director and erstwhile member of the management of the Corporate Debtor, namely Payism Technologies India Private Limited, under Section 60(5) of the Insolvency and Bankruptcy IN CP (IB) No. 14/7/HDB/2020 Date Of Order:17.04.2026 Code, 2016 (IBC) read with Rule 11 of the National Company Law Tribunal Rules, 2016, seeking the following reliefs:

a) Recall the Order dated 19.02.2025 passed in IA (Dis) No. 02/54/HDB/2025 in CP(IB) No. 14/7/HDB/2020; and b) Restore the Corporate Debtor to enable any prospective buyer (including Mr.

Nalimela Jagadeeshwar Reddy) to revive the company as a going concern for the benefit of creditors and stakeholders;

Case of the Applicant:

2. Payism Technologies India Private Limited/Corporate Debtor1, was incorporated on

06.02.2013 under the Companies Act, 2013, with its registered office at Flat No. 202, 2nd Floor, Silicon Towers, Plot Nos. 2 & 3, Silicon Valley, Madhapur, Hyderabad - 500081.

3. The primary objective of the Corporate Debtor was to provide technology-driven financial solutions for domestic migrants and the unbanked population. The business had been operational since 2006 and was conducted through the domains www.payism.in and www.payism.com.

4. In 2014, for the purpose of business expansion, the Applicant and Mr. Mouthik Kiran Reddy each availed financial assistance of Rs. 20,00,000/- from financial creditors by pledging their respective share certificates. The Applicant duly discharged his liability in 2018 upon redemption of the pledged shares. However, Mr. Mouthik Kiran Reddy failed to repay his loan, and the said liability continued to remain outstanding.

5. The Applicant submitted that, subsequently in the year 2015, Mr. Dommallur Shivanna Nandish expressed interest in the business of the Corporate Debtor and agreed to invest a sum of Rs.8.25 Crores in the Corporate Debtor, along with a further sum of Rs.3.25 Crores to the promoters for acquisition of 50% shareholding of the Corporate Debtor.

6. Pursuant thereto, the Applicant and Mr. Mouthik Kiran Reddy transferred their shares to Mr. Dommallur Shivanna Nandish, who thereafter assumed control over the day-to-

day operations of the Corporate Debtor.

Bearing CIN: U72200TG2013PTC091292

IN CP (IB) No. 14/7/HDB/2020 Date Of Order:17.04.2026

7. It is the case of the Applicant that, from the year 2017 onwards, Mr. Dommallur Shivanna Nandish has been exercising control over the Corporate Debtor, including its bank accounts and cheque-signing authority, and that such control was assumed by f