I.A (IBC)(Plan)/34/2025 with I.A (I.B.C)/2272(KB)2024 And in C.P (IB) No.28/2024 IN THE NATIONAL COMPANY LAW TRIBUNAL KOLKATA BENCH, COURT-II KOLKATA I.A (IBC)(Plan)/34/2025 And I.A (I.B.C)/2272(KB)2024 And I.A (I.B.C)/160(KB)2025 in C.P (IB) No.28/2024 An application under Section 30(6) read with section 31 of the Insolvency and Bankruptcy Code, 2016 read with regulation

39(4) of the Insolvency and Bankruptcy board of India (Insolvency resolution process for corporate persons)

Regulations, 2016.

IN THE MATTER OF:

STATE BANK OF INDIA ……Financial Creditor Versus S.R. WORTH LIMITED ……Corporate Debtor And IN THE MATTER OF:

NEERAJ KUMAR SUREKA Resolution Professional Having an office at Central Plaza, 6th Floor, In C.P (IB) No.28/2024 Room No. H, 41 B B Ganguly Street, Kolkata, West Bengal - 700012 ……Applicant Order pronounced on: ------

CORAM:

MR. LABH SINGH, HON’BLE MEMBER (JUDICIAL)

MS. REKHA KANTILAL SHAH, HON’BLE MEMBER (TECHNICAL)

APPEARANCES:

Mr. Rishav Banerjee, Adv. ] For RP Ms. Arundhuti Barman Roy, Adv. ]

Mr. Niraj Shukla, RP-in-person Mr. Shaunak Mitra, Adv. ] For SBOD Mr. Saurav Jain, Adv. ]

Ms. Zeba Khan, Advocate ] For SRA

O R D E R

LABH SINGH, JUDICIAL (MEMBER)

1. The present interlocutory application bearing IA (IBC)

(Plan) No. 34/KB/2025 was filed on 18.11.2025 by Neeraj Kumar Sureka Resolution Professional ( for short ‘RP’) of S.R. Worth Limited, the Corporate Debtor ( for ‘CD’) under the provisions of Sections 30(6) and section 31 of the Insolvency & Bankruptcy Code, 2016 for short ‘IBC Code) read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (for short ‘IBBI In C.P (IB) No.28/2024 (CIRP) Regulation 2016’) for approval of the Resolution Plan submitted by M/s Joy Vincom Private Limited, the Successful Resolution Applicant (SRA), as approved by the Committee of Creditors (CoC) with 100% vote.

2. Brief facts about Corporate Debtor and CIRP:

2.1 The underlying Company Petition in CP (IB) No. 28/KB/2024 was filed by State Bank of India against S.R. Worth Limited, the Corporate Debtor, under section 7 of the Insolvency and Bankruptcy Code 2016 and the Corporate Debtor was admitted in Corporate Insolvency Resolution Process (for short ‘CIRP process’) by this Tribunal vide order dated 30.08.2024.

2.2 Initially, Mr. Neeraj Kumar Sureka was appointed as the Interim Resolution Professional. Subsequently, upon confirmation by the Committee of Creditors under Section 22(2) of the Insolvency and Bankruptcy Code, 2016, the said Mr. Neeraj Kumar Sureka continued as the Resolution Professional of the Corporate Debtor, without any change in appointment.

3. Collation of Claims, Constitution of CoC, and Valuation:

3.1 The IRP made public announcement on 01.09.2024 in “Financial Express” (English newspaper) and “Aajkaal” (Regional language Newspaper) newspapers regarding initiation of CIRP process and called proof of claims In C.P (IB) No.28/2024 from the financial and operational creditors, workers and employees of the Company in the specified forms till

13.09.2024.

3.2 The Committee of Creditors was initially constituted on

21.09.2024. Subsequently, a claim was received from the Income Tax Department after the formation of the CoC. As the claim of the Operational Creditor exceeded 10% of the total admitted debt, the Applicant was required to reconstitute the Committee of Creditors. Accordingly, the CoC was reconstituted on 23.01.2025, comprising State Bank of India as the Secured Financial Creditor, holding

100% voting share in the CoC.

3.3 The applicant states that a total of nine (9) meetings have been held during CIRP period, as follows:

In C.P (IB) No.28/2024

9^th CoC Meeting 28.10.2025

3.4 The applicant had appointed total 6 (six) valuers for all categories during the CIRP period of the corporate debtor namely Swapnil Jain and Bishwanath Choudhury for the Securities or Financial Assets, Debashish Ghosh and Asim Maity for Plant and Machinery and Tarik Anwar, De