IN THE NATIONAL COMPANY LAW TRIBUNAL, BENGALURU BENCH [Through Physical hearing/VC Mode (Hybrid)]

ITEM No.11 IA. Nos. 356, 583, 586, 587, 689, 720, 735/2024, 161/2025, IA (IBC) (Plan) 03/2025, 929/2025, 163 & 295/2026 in C.P. (IB) No. 32/BB/2023 IN THE MATTER OF:

M/s. Religare Finvest Ltd. … Petitioner Vs.

M/s. Stellence Pharmscience Ltd. … Respondent Petition under Section 7 of I&B Code, 2016 Order delivered on: 24.04.2026 CORAM:

SHRI SUNIL KUMAR AGGARWAL HON’BLE MEMBER (JUDICIAL)

SHRI RADHAKRISHNA SREEPADA HON’BLE MEMBER (TECHNICAL)

COUNSELS PRESENT:

For the RP : Shri Shashank Nagendran The RP-in- Person : Shri Naveen Kumar For the Respondent in IA.163/2026 : Shri Janak Purohit for Shri Sandeep Huligol For R-18 in IA.720/24 : Ms. Apoorva For Respondent in IA.161/2025 : Shri Hari Prasad, (New India Assurance Co. Ltd.)

For Respondents in IA No.583/2024 : Shri Arjun Ajay For the IA (Plan) 3/2025 : Shri Biwsajith Dubey

ORDER

I.A.No.161/2025 is dismissed vide separate order.

IA. No. 583/2024 is disposed of vide separate order.

IA.No.356/2024 is allowed vide separate order.

I.A. (IBC) (Plan) No.3/2025:

1. It is informed that additional documents has been filed vide dy.no.2036 with compliance of last order requirements and Bank Guarantee has been extended till 29.04.2026, and has already heard arguments. Further submits that there are no objections and fully satisfied with the Plan.

2. List the matter on 28.05.2026 for Clarification, if any.

I.A.No.929/2025

1. This application has been filed by Ex-employees of the C.D. It is informed that pleadings are completed.

2. For hearing, list the case on 28.05.2026.

I.A.No.163/2026:

1. Ld Counsel for Respondent requested time to file objections. Two weeks is granted to file objections with supply of copy to other side. Another two weeks for Applicant to file rejoinder with direct exchange of copies.

2. List the case on 28.05.2026.

I.A.No.295/2026:

1. This application is for recalling order dated 09.12.2025 filed by Applicant.

2. In view of restoration of power supply to the Corporate Debtor upon payment, nothing survives for adjudication. The Application is accordingly dismissed as infructuous.

List the case on 28.05.2026.

-Sd/- -Sd/-

RADHAKRISHNA SREEPADA SUNIL KUMAR AGGARWAL MEMBER (TECHNICAL) MEMBER (JUDICIAL)

BL

IN THE NATIONAL COMPANY LAW TRIBUNAL, BENGALURU (Exercising powers of Adjudicating Authority under The Insolvency and Bankruptcy Code, 2016)

I.A. No. 161/2025 in C.P. (IB) No. 32/BB/2023 (filed under Section 60 (5), Section 18 (f) and 25 (2) (a) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the NCLT Rules , 2016)

IN THE MATTER OF: Mr. Naveen Kumar Jain Resolution Professional of Stellence Pharmscience Pvt. Ltd., A2/223, U.G.F Janakpuri New Delhi – 110058 …Applicant Versus The New India Assurance Company Limited

87, M.G. Road, Fort, Mumbai– 400 001 Also at: Davangere Division Office 289/12, C G Hospital Road, A M Aracade 2^nd Floor, Davangere Karnataka – 577002 …..Respondent IN THE MAIN MATTER OF:

M/s. Religare Finvest Ltd.

Having its registered office at

1407, 14th Floor, Chiranjiv Tower, 43, Nehru Place, New Delhi – 110019 …Petitioner / Financial Creditor Versus M/s. Stellence Pharmscience Pvt. Ltd. Registered Office at: No.456, 1A & 1B, Industrial Area, Jigani, Bangalore– 562 106. … Respondent / Corporate Debtor Order Delivered on: 24.04.2026 Coram: Shri Sunil Kumar Aggarwal, Hon’ble Member (Judicial)

Shri Radhakrishna Sreepada, Hon’ble Member (Technical)

Counsels Present:

For the Applicant : Shri Shashank Nagendran For the Respondent : Shri Hariprasad O R D E R

1. This Application has been filed on 13.12.2024 under Section 60 (5), Section 18 (f) and 25 (2) (a) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the NCLT Rules, 2016 by Shri Naveen Kumar Jain Resolution Professional of M/s. Stellence Pharmscience Pvt. Ltd. (“Corporate Debtor”) for the following reliefs: -

(a) Allow the present Application.

(b) Set Aside the repudiation order passed by Respondent dated 07.03.2024 being p