S.No.1 IN THE NATIONAL COMPANY LAW TRIBUNAL VC AND PHYSICAL (HYBRID) MODE ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

06-05-2026 AT 1:00 PM CP (IB) No. 111/7/HDB/2017 AND IA (IBC) 974/2024 in CP (IB) No. 111/7/HDB/2017 u/s. 7 of IBC, 2016 IN THE MATTER OF:

IDBI Bank Limited …Financial Creditor AND Lanco Infratech 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) 974/2024 Present: Mr. G P Yash Vardhan, Ld. Counsel for the Applicant. Mr. Anugrah Robin Frey, Ld. Counsel for the Respondent No.1.

Orders pronounced, recorded vide separate sheets.

In the result, this application is allowed and disposed of.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

siva IN THE NATIONAL COMPANY LAW TRIBUNAL In the mater of IDBI BANK LIMITED, FINANCIAL CREDITOR vs LANCO INFRATECH LIMITED, CORPORATE DEBTOR Between IDBI Bank Limited, NPA Management Group, IDBI Tower, 7^th Floor, WTC Complex, Cuffe Parade, Mumbai – 400 005.

Rep. by Shri Bhagabat Prasad Patra, Deputy General Manager, Office at : D.No. 5-9-89/1 & 2, Chapel Road, PB No. 370, Hyderabad – 500 001.

….Applicant And

1. Mr Savan Godiawala, Insolvency Resolution Professional &

Erstwhile Liquidator of Lanco Infratech Ltd, C/o Deloitte Touche Tohmatsu India LLP, 19^th Floor, Shapath-V, SG Road, Ahmedabad.

2. Deloitte Touche Tohmatsu India LLP, 19^th Floor, Shapath-V, SG Road, Ahmedabad.

3. Lanco Infratech Limited, Represented by its Liquidator Ms Anuradha Bisani, Office at : Plot No.4, Software Units Layout, Hitech City, Madhapur, Hyderabad – 500 081.

Also at :

3-6-106/A, Om Sri Sai Towers, Flat No. 102, Street No. 19, Near Vijay Diagnostic Centre, Himayatnagar, Hyderabad – 500 029.

Respondents Date of order : 06.05.2026 CORAM Sri Rajeev Bhardwaj, Hon’ble Member (Judicial)

Sri Sanjay Puri, Hon’ble Member (Technical)

Counsel present For the Applicant : Mr Avinash Desai, Ld Senior Counsel along with Mr GP Yashvardhan For the Respondent No. 1 : Mr Vivek Reddy, Ld Senior Counsel along with Mr Pranay Sohini For the Respondent No. 2 : Mr S Ravi, Ld Senior Counsel along with Mr Pratik Reddy

1. This Application is filed by IDBI Bank (The Applicant), seeking directions against Respondent No.1 and 2 to refund the excess amount of Rs. 7,48,73,065/- paid to Respondent No.2 in the form of fees for assisting the Respondent No.1 during the Liquidation Process of the Corporate Debtor (CD). The grievance is that such payment was made contrary to the Code & Regulations and not for the benefit of the stakeholders.

2. In this case, Section 7 Application against Lanco Infratech Ltd, Respondent No. 3, was admitted under the IBC¹ and CIRP² commenced on 07.08.2017. Since no resolution plan was approved by the Committee of Creditors, on 27.08.2018, liquidation was ordered, and Respondent No.1 was appointed as Liquidator3.

3. In the 1st meeting of the SCC, Respondent No.1 informed that he had appointed Deloitte Touche Tohmatsu India LLP (DTTILLP), Respondent

1 Insolvency and Bankruptcy Code, 2016

2 Corporate Insolvency Resolution Process

Respondent No. 1 was discharged as Liquidator on 19.09.2022, and after another brief appointment, Ms.

Anuradha Bisani was appointed as the Liquidator of the Respondent No.3 company, who is the current

Liquidator representing the CD.

No.2, wherein he himself was a partner, as process advisor to assist and coordinate the entire liquidation process of the Corporate Debtor. The disclosed fee was Rs. 50 lakhs per month + out of pocket expenses at actuals + applicable taxes payable up to completion of liquidation.

4. Pursuant to the 1st SCC meeting, in the Joint Lenders Meeting (JLM dated 24.12.2018, which was attended by Respondent No.1 and representatives of Respondent No.2, stakeholders raised concern over the exorbitant fees being paid to Respondent No.2. Respondent No.1 confirmed that the monthly retainer of Rs. 50 Lakhs if paid to Respondent No.2 would be adjusted against the fee payable to the Respondent No.1 as per the Regulations o