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610 NATIONAL COMPANY LAW TRIBUNAL DIVISION BENCH, COURT – II CHENNAI ATTENDANCE CUM ORDER SHEET OF THE HEARING OF NATIONAL COMPANY LAW TRIBUNAL, CHENNAI BENCH, HELD ON 07.08.2026 AT

10.30 A.M. THROUGH VIDEO CONFERENCING:

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CORAM : SHRI. JYOTI KUMAR TRIPATHI, HON'BLE MEMBER (JUDICIAL)

SHRI. RAVICHANDRAN RAMASAMY, HON'BLE MEMBER (TECHNICAL)

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APPLICATION NUMBER : --

PETITION NUMBER : CP/(IB)/202/CHE/2024 NAME OF THE PETITIONER : Rajesh Kumar Saraf HUF NAME OF THE RESPONDENT(S) : Veremax Technologie Services Ltd UNDER SECTION : Sec 7 Rule 4 of IBC, 2016 ----------------------------------------------------------------------------------------------------------------

ORDER

Present : Ld. Counsel Mr. K. Sanjay for Ld. Counsel Mr. Vishnu Mohan for the Petitioner.

Vide separate order pronounced in open court, -SD- -SD-

RAVICHANDRAN RAMASAMY JYOTI KUMAR TRIPATHI Member (Technical) Member (Judicial)

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IN THE NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH – II, CHENNAI CP(IB)/202(CHE)/2024 (Filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, R/w, Rule 4 of the Insolvency and Bankruptcy Rules, 2016)

In the matter of Veremax Technologie Services Ltd.

Rajesh Kumar Saraf HUF, Tangy Apartments, Flat No. 3C, No. 34, Dr. P.V. Cherian Crescent, Egmore, Chennai – 600 008 … Petitioner/ Financial Creditor V/s Veremax Technologie Services Ltd.

Doshi Towers, New Number 205, Third Street, Poonamallee High Road, Kilpauk, Chennai – 600 010..

… Respondent/ Corporate Debtor Order Pronounced on 7th August 2026 CORAM:

SHRI. JYOTI KUMAR TRIPATHI, MEMBER (JUDICIAL)

SHRI. RAVICHANDRAN RAMASAMY, MEMBER (TECHNICAL)

Present:

For Applicant: Rahul Balaji, madhan Babu Advocate.

For Respondent: Pawan Jhabakh Advocate.

O R D E R

(Heard through Hybrid Mode)

Under consideration is a petition under Section 7 of IBC filed by Rajesh Kumar Sarraf HUF, Petitioner/ Financial Creditor herein against Veremax Technologie Services Ltd. (Respondent / Corporate Debtor herein for initiating Corporate Insolvency Process (CIRP) against the Corporate Debtor.

SUBMISSIONS OF THE APPLICANT

2. Part I of the Application contains the particulars of the Applicant Rajesh Kumar Saraf HUF. Part II of the Application sets out the details of the Corporate Debtor. It was incorporated on 17.05.2013 with authorised share capital of the Corporate Debtor address at Doshi Towers, New Number 205, Third Street, Poonamallee High Road, Kilpauk, Chennai - 600 010. In Part II of the application the details of the proposed Insolvency professional is given by the applicant as Madhu Desikan with IBBI registration number as IBBI/IPA-001/IP-P00579/2017-2018/1102. In the part IV of the application the detail of the debt is given as The Principal Amount claimed to be in default is INR 4,50,50,000/- along with interest of INR 51,34,250/- which is calculated at 36% p.a. from the date of disbursement of the loan till 26.08.2024. The total amount claimed is INR 5,01,84,250/ -.

The date of default as stated by the applicant is 10.07.2023.

3 It is submitted that Corporate Debtor (acting through its directors/major shareholders, Mr. TRM Venkatesh and Mrs. V. Annam) approached the Applicant and represented that the Corporate Debtor was in urgent need of funds for working capital requested disburse a short- term loan of Rs. 5,00,00,000/- (Rupees Five Crores Only) to the Corporate Debtor for a term of one (1) month at the rate of 36% per annum (i.e. 3%

interest per month).

4. It is stated that the Applicant disbursed to the corporate debtor Rs 5,00,00,000/- as a short term loan the said short term loan was disbursed by way of RTGS from the bank account of Applicant to Mr TRM Venkatesh’ bank account and on the same day 09.06.2023 The corporate debtor issued a Demand Promissory note in