Application under section 30 and 31 of the Insolvency and Bankruptcy Code, 2016 read with Regulation 39 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons)

Regulation 2016.

IN THE MATTER OF:

M/s Linkpoint Advisory Private Limited ……Corporate Debtor IN THE MATTER OF:

Mr. Vishnu Kumar Tulsyan, Resolution Professional of RSI Private Limited ……Applicant Coram:

Shri. Labh Singh, Hon’ble Member (Judicial)

Ms. Rekha Kantilal Shah, Hon’ble Member (Technical)

APPEARANCES (Physically Or Virtually):

For the RP i. Ms. Manju Bhuteria, Sr. Adv.

ii. Ms. Rachita Arora, Adv.

iii. Ms. Arundhati Barman Roy, Adv.

iv. Mr. Vishnu Kumar Tulsyan, Adv.

For the SRA i. Ms. Nabanita Dutta, Adv.

Date of Pronouncement: 08.05.2026

O R D E R

Per: Rekha Kantilal Shah, Member (Technical)

1. This Application has been preferred by the Resolution Professional Mr. Vishnu Kumar Tulsyan, the Resolution Professional (hereinafter referred to as the “RP”) of the Corporate Debtor, Linkpoint Advisory Private Limited (hereinafter referred to as the “CD”) under section 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016 (“IBC”), seeking direction for final approval of Resolution Plan submitted by M/s Agravanshi Steells Private Limited.

2. Background of the Case

2.1 The CD was admitted into Corporate Insolvency Resolution Process (hereinafter referred to as the “CIRP”) vide an order of this Tribunal dated 28^th November, 2024 and Mr. Vishnu Kumar Tulsyan, the applicant in the instant case, was appointed as the Interim Resolution Professional for the CD.

2.2 The public announcement intimating the initiation of CIRP was published on 01^st December, 2024 in the newspapers- Financial Express (English) and Ekdin (Bengali). The last date of submissions of claim as per the public announcement was 12^th December, 2024.

2.3 The Committee of Creditors (hereinafter referred to as the “CoC”) was constituted by the IRP on 30^th December 2024, with the FC, namely M/s Pixel Consultancy Private Limited, being the sole member of the CoC. The first meeting of CoC was held on 08^th January, 2025, and the applicant was confirmed as the RP with 100% voting approval.

2.4 The list of creditors prepared by the RP as on 31.07.2024 is provided hereinbelow:-

2.5 It has been stated for invitation of Expression of Interest (hereinafter referred to as the “EOI”) three Form G’s were published – firstly on 26^th January, 2025, secondly on 14^th February, 2025 and thirdly on 04^th March, 2025, all published in Financial Express (English) and Ekdin (Bengali).

2.6 Subsequent to publishing the third Form G, the applicant received EOIs from three Prospective Resolution Applicants (hereinafter referred to “PRA”). Out of the three PRAs, one PRA failed to deposit the Earnest Money Deposit of Rs. 5,00,000/- (Rupees Five Lakhs). In view of the above, the RP prepared the final list of PRAs on 31^st March, 2025 which has been extracted hereinbelow:-

2.7 As the CD only owned Financial Assets, the RP had appointed two valuers for the purpose of valuation of the Financial Assets of the CD. The excerpts of the valuation reports submitted by the said valuers are as follows:-

2.8 In compliance with Section 29 of the Code read with Regulation

36 of the CIRP Regulations, the Applicant prepared the Information Memorandum containing the details related to matters listed in Regulation 36(2)(a) to (l) of the CIRP Regulations (“IM”) on 03^rd March, 2025. In accordance with the provisions of Regulation 36(4) of the CIRP Regulations, the IM was shared with the members of the CoC upon obtaining an undertaking of confidentiality from the members.

2.9 Pursuant to the publication of the Request for Resolution Plans in accordance with Insolvency and Bankruptcy Code, 2016 and the corresponding provisions of the CIRP Regulations, a total of two (2) Resolution Plans were received from the aforesaid PRAs – (i) Agravanshi Steells Pvt. Ltd. and (ii) Consortium of BP Land Developers Pvt. Ltd. & Soneko Marketing Pvt. Ltd. with