IN THE NATIONAL COMPANY LAW TRIBUNAL

KOLKATA BENCH

KOLKATA

IA (IB) No.114/KB/2022

in

CP (IB) No.1258/KB/2018

In the matter of:

Application under section 30(6) and section 31(1) of the Insolvency and

Bankruptcy Code, 2016 read with rule 11 of the National Company Law

Tribunal Rules, 2016;

And

In the matter of:

Hemang Steel Traders

…

Operational Creditor

Versus

Omni Auto Tech Private Limited

…

Corporate Debtor

And

In the matter of:

Mr. Surya Kanta Satapathy,

Resolution Professional of

Omni Auto Tech Private Limited

…

Applicant

Coram:

Mr. Rohit Kapoor

:

Member (Judicial)

Mr. Harish Chander Suri

:

Member (Technical)

Appearances (via hybrid mode):

For the Applicant/RP

:

Mr. Balram Pandit, Advocate

Mr. Surya Kanta Satapathy, RP

Date of hearing: 19 April, 2022

Date of pronouncement: 18 July 2022

ORDER

Per: Rohit Kapoor, Member (Judicial)

1.

Preliminary

1.1.

This Court convened through hybrid mode.

1.2.

IA (IB) No. 114/KB/2021 is an application filed by Mr. Surya Kanta

Satapathy, Resolution Professional of Omni Auto Tech Private Limited

IN THE NATIONAL COMPANY LAW TRIBUNAL

KOLKATA BENCH

In Re Resolution Plan of Omni Auto Tech Pvt. Ltd.

IA (IB) No. 114/KB/2022 in CP (IB) No. 1258/KB/2018

Page 2 of 35

[CIN: U50300JH2005PTC011601], under section 30(6) read with

section 31(1) of the Insolvency and Bankruptcy Code, 2016 and

regulation 39(4) of the Insolvency and Bankruptcy Board of India

(Insolvency Resolution Process for Corporate Persons) Regulations,

2016 (CIRP Regulations) for approval of the Resolution Plan in respect

of Omni Auto Tech Private Limited, the Corporate Debtor.

1.3.

The underlying Company Petition in CP (IB) No. 1258/KB/2018 was

filed by Hemang Steel Traders against the Corporate Debtor under

Section 9 of the Insolvency and Bankruptcy Code 2016, which was

admitted vide order dated 01 August 2019.

1.4.

Mr.

Surya

Kanta

Satapathy

[Regn.

No.

IBBI/IPA-001/IP-

P00589/2017-18/11050] was appointed as the Interim Resolution

Professional (IRP) AND was confirmed as the Resolution Professional

(RP) of the Corporate Debtor by the Committee of Creditor (“CoC”) in

its First CoC meeting held on 30 August 2019.

2.

Constitution of CoC

2.1.

The IRP made public announcement on 04 August 2019 in Morning

India (English) (Ranchi editions), Sanmarg (Hindi) (Ranchi edition)

newspapers regarding initiation of Corporate Insolvency Resolution

Process [CIRP] and called for claims from the financial and

operational creditors, workers and employees of the Company in the

specified forms till 15 August 2019.

2.2.

The CoC was constituted on 23 August 2019 with three Operational

Creditors viz. Hemang Steel Traders, Regional Employees Provident

Fund Organisation and Industrial Forge & Engineering Company

Limited.

2.3.

The Applicant states that total of 7 (seven) CoC meetings have been

held during CIRP period.

IN THE NATIONAL COMPANY LAW TRIBUNAL

KOLKATA BENCH

In Re Resolution Plan of Omni Auto Tech Pvt. Ltd.

IA (IB) No. 114/KB/2022 in CP (IB) No. 1258/KB/2018

Page 3 of 35

3.

CIRP and compliances

3.1.

The Applicant submits that in terms of the provisions of section

25(2)(h) of the Code read with regulation 36A(1) of CIRP Regulations,

2016, invitations in Form ‘G’ for Expressions of Interest (“EoI”) from

potential resolution applicants was published on 19 September 2019

for submission of resolution plans for the Corporate Debtor, in terms of

the provisions of section 25(2)(h) of the Code read with regulation 36A

(1) of the Insolvency and Bankruptcy Board of India (Insolvency

Resolution Process for Corporate Persons) Regulations, 2016. It was

also published on the website of the Corporate Debtor and IBBI.

3.2.

No EoI was received, hence the Applicant published second EoI was

issued on 26 December 2019 in Morning India (English) (Ranchi

editions), Sanmarg (Hindi) (Ranchi edition) newspapers and the last

dat