Approval of Resolution Plan - Dreamz Infra India Limited

ORDER 1. Heard Ld. Counsels for the parties. 2. I.A (PLAN) No.03/2024: Plan submitted by Bharat Hi-Tech Builders Private Limited and Noida Holding Private Limited has been approved vide separate order. I.A accordingly allowed. 3. I.A. No.502/2026: Vide separate order, the application filed by the Suspended Director has been dismissed with cost of Rs.5,00,000/- (Rupees Five Lakh only) to be deposited in CD account within two weeks. The contention raised on behalf of the Suspended Director that her settlement proposal has not been placed before the CoC for its consideration, as it was proposing to offer more value than SRA has been countered by the Ld. Counsel for the RP contending that the proposal had directly been made to Homebuyers who have appropriately considered it and conveyed their rejection to the Applicant. The RP and some of the Homebuyers, about five in No., present in the Court declined to reconsider the plan as her earlier two settlement proposals had not taken of. Reliance is placed on the judgement passed by Hon’ble NCLAT, Principal Bench, New Delhi in Company Appeal (AT) (Insolvency) No.1803 of 2024 in the case of Pratham Expofab Private Limited vs. Mr. Anil Matta, Resolution Professional where it was held that settlement proposal by Ex-Promoter of CD, after the approval of resolution Plan by the CoC, cannot be entertained. In view of the above plea on behalf of the Applicant is repelled. 4. I.A No.535/2026: Ld. Counsel for the Respondent/Suspended Director confirms having received the copy of the complete application. Let reply thereto be filed in three weeks with copy to the RP who shall file rejoinder in another three weeks. 5. List the case on 12.08.2026.

-Sd- -Sd- RADHAKRISHNA SREEPADA SUNIL KUMAR AGGARWAL MEMBER (TECHNICAL) MEMBER (JUDICIAL)

Gy (Exercising powers of Adjudicating Authority under The Insolvency and Bankruptcy Code, 2016) I.A. (PLAN) NO. 3/2024 IN C.P. (IB) NO. 113/BB/2022 (Section 30(6) read with Section 31 of the Insolvency & Bankruptcy Code, 2016 read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016) and Rule 11 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016)

IN THE MATTER OF: Dreamz Infra India Limited (Samhita Project), Represented by its Resolution Professional, Mrs. Ramanathan Bhuvaneshwari Having registered address at C-006, Pioneer Paradise, 24thMain Road, 7thPhase, JP Nagar, Bangalore – 560078 …. Resolution Professional/Applicant

IN THE MAIN MATTER OF: Apartment Buyer’s Consumer Association No.31, II Main, Gururaja Layout, Behind Vidyapeeta Temple, Thyagarajanagar, Bengaluru – 560028 ..Petitioners/ Financial Creditor Versus Dreamz Infra India Limited (Samhita Project) 577 /B, 2nd Floor, Outer Ring Road, Teachers Colony, Konnangala, Bangalore –560034 … Respondent/ Corporate Debtor Order Delivered on: 25.06.2026 Coram: Shri Sunil Kumar Aggarwal, Hon’ble Member (Judicial) Shri Radhakrishna Sreepada, Hon’ble Member (Technical) Parties/Counsels Present: For the Applicant: Ms. Chithra Nirmala I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

1. Mrs. Ramanathan Bhuvaneshwari (Resolution Professional of the Corporate Debtor’) has filed this application on 18.02.2024 under Section 30(6) read with Section 31 of the Insolvency and Bankruptcy Code, 2016 and Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 seeking approval of the Resolution Plan of the Dreamz Samhita Project of the Corporate Debtor submitted by the Consortium of M/s Bharath Hi Tech Builders Private Limited and M/s Noida Holdings Private Limited ("Successful Resolution Applicant"/"SRA") after it was approved by the Committee of Creditors ("CoC") in its 5th meeting held on 14.02.2024 with 83.05% voting share. 2. ABOUT THE CORPORATE DEBTOR M/s Dreamz Infra India Pvt. Ltd. was admitted into CIRP on 24.08.2023 on a Section 7 IBC petition filed by Apartment Buyer’s Consumer Association representing homebuyers in respect of its real estate project Dreamz Samhita after the earlier CIRP proceedings in CP(IB) 84/BB/2019 were confined only to Dreamz Sumadhur Project, vide order dated 04.09.2020 passed therein, and Ms. Ramanathan Bhuvaneshwari was appointed as the IRP and later confirmed as RP on 21.11.2023. Thereafter, the Resolution Professional keeping in mind the timelines prescribed under the Code, had started discussions with Committee of Creditors from the 1st meeting regarding the Resolution of the Corporate Debtor and in its 4th meeting discussed the Plans submitted by Four Prospective Resolution Applicants, namely Consortium of M/s Noida Holdings Private Limited & Bharat Hitech Builders Private Limited; H. K Kumaraswamy; Nir Nidhi Vyapaar Private Limited and Vijay Oswal in detail and the Resolution Plan submitted by Consortium of M/s Noida Holdings Private Limited & Bharat Hitech Builders Private Limited was approved with the voting of 83.05% resolution plan by the Committee of Creditors in its 5th meeting held on 14.02.2024. Subsequently, the RP filed the same with present application for approval of this Authority.

I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

The key dates and events during the Corporate Insolvency Resolution Process period are tabulated hereunder: S. No. Date Particulars 1. 24.08.2023 Dreamz Samhita project of the Corporate Debtor was admitted into CIRP and IRP appointed. 2. 07.09.2023 Paper Publication for Public announcement issued in Form A. 3. 27.09.2023 The IRP constituted the Committee of Creditors comprising only the Homebuyers and filed Report with AA. 4. 04.10.2023 1st CoC Meeting- Applicant was confirmed as RP of the Corporate Debtor by the CoC. 5. 21.11.2023. AA approved the appointment of Mrs. Ramanathan Bhuvaneshwari as RP of the Corporate Debtor. . 6. 21.10.2023 After the approval of the CoC, the RP appointed two IBBI Registered Valuers for Land and Buildings as the assets of Corporate Debtor consisted only the project site with foundation and nothing else 7. 03.11.2023 Paper Publication of Form G seeking expression of Interest issued in two daily newspapers Vijayavani (kannada) and Financial Express (English) 8. 25.11.2023 In the 3rd CoC meeting RP got the details of Information Memorandum approved. 9. 14.12.2023 Resolution Professional received 6 EOIs.

Due diligence on the Eligibility of the PRAs u/s 29A conducted and list of Final Prospective Resolution Applicants (PRAs) prepared. 10. 19.12.2023 The IM, RFRP and the Evaluation Matrix were issued The PRAs were given time to submit the Resolution Plans and the last date for submission was 18.1.2024. 11. 18.01.2024 RP received 4 Resolution Plans (out of the 5 shortlisted PRAs) from a) Consortium of M/s Bharath Hitech Builders Pvt. Ltd. & Noida Holdings Pvt. Ltd. b) H.K.Venkataswamy, c) Nirnidhi Vyapaar Pvt. Ltd. and d) Vijay Oswal. 12. 23.01.2024 The received Plans were discussed in the 4th CoC meeting. The Four PRA’s had a one to one meeting with the CoC and they were asked to submit revised Resolution Plans. 13. 09.02.2024 Last date for Shortlisted four PRA’s to submit revised Plans 14. 14.02.2024 In 5th CoC Meeting the Resolution Plans were finally considered by the CoC. 15. 15.02.2024 In the E-voting on Resolution Plans, the Resolution Plan to submitted by the Consortium of M/s Bharath Hitech Builders 16.02.2024 Pvt ltd & M/s Noida Holdings Pvt. Ltd. was found approved by CoC with voting share of 83.05% and declared as the Successful Resolution Applicant (SRA) of the Dreamz Samhita project of the Corporate Debtor.

16. 16.02.2024 The Resolution Professional issued Letter of Intent (LOI) as to per the process in the approved RFRP to the SRA and 17.02.2024 requested to deposit the Performance Security of Rs. 92 Lakhs, as provided in the RFRP. The SRA had already I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 submitted Rs. one Lakh at the time of submission of EOI and Rs. 7.00 Lakhs at the time of submission of Resolution Plan. With the receipt of Rs. 92 Lakhs, the total Performance security received from SRA is Rs. 1.00 crores. 17. 18.02.2024 Date of Filing of Resolution Plan with AA. 18. 19.02.2024 Date of Expiry of 180 days of CIRP. 19. 12.03.2026 IA 397/2024 and IA 925/2024 challenging the validity of CIRP and Resolution plan of the Dreamz Samhita project of the Corporate Debtor dismissed by AA. 20. 21.05.2026 IA 543/2025 challenging the validity of CIRP and Resolution plan of the Dreamz Samhita project of the Corporate Debtor dismissed.

3. APPOINTMENT OF REGISTERED VALUERS: Two IBBI Registered Valuers were appointed on 21.10.2023 for Land and Buildings only and not for Plant & Machinery and Securities & Financial assets as the assets consisted only of the project site with Foundation and nothing else. The copy of valuation reports has been filed as an additional affidavit vide Diary No. 2666 on 22.05.2025. The summary of valuation reports of the Samhita Project of Corporate Debtor is as follows: Particulars Fair Market Value Liquidation Value

Land & Building Mr. Murali 19,29,86,401 15,43,89,121 Mr. Ranganath 18,39,00,000 14,71,00,000 Total Value 37,68,86,401 30,14,89,121 Average Value 18,84,43,201 15,07,44,561

4. DETAILS OF THE SUCCESSFUL RESOLUTION APPLICANT Bharath Hi Tech Builders Private Limited and Noida Holdings Private Limited had entered into Consortium Agreement on 18.11.2023 for submitting joint bid for the subject Project. The members of a Consortium have decided that M/s Noida Holdings Private Limited shall be the ‘Lead Member’ of the Consortium who will submit resolution plan and conduct the business on behalf of this consortium. The parties shall equally share the profit/losses (50:50). It is further agreed between them that in case a Special Purpose Vehicle is required to be incorporated for the implementation of the resolution plan and to conduct the business, their I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 shareholding pattern shall remain the same. However, the shareholding pattern shall (if needed) be changed by written consent of both the parties. A separate shareholders agreement shall be executed for the purpose of incorporation of special purpose vehicle. Bharath Hi- Tech Builders Pvt Ltd: - Shri. Chetan Prakash Tayal, a young and dynamic entrepreneur established M/s. Karnataka Contractors and Builders Pvt Ltd on 17.07.1984 in Bengaluru with the objective of taking up housing and real estate projects in Bangalore which was later renamed as M/s. Bharath Hi-Tech Builders Pvt. Ltd. on 25.05.2007.

Over the years, company undertook construction of several housing complexes namely Gold Tower, Radhakrishna Complex, Lakshmi Residential Layout, Chetan Layout, Vijaya Residential Layout, Hinkel Layout and Mysore Meadows at Mysore. The net-worth of Bharath Hi Tech Builders Private Limited is Rs. 58,45,57,186/- as on 31.03.2025. Vide affidavit dated 03.04.2026 it has been clarified that there will be no erosion of the Networth of company as on 31.03.2026 as company has receivables of Rs.30.38 Crores. Noida Holdings Private Limited: It has a rich and varied experience in trade and industry (having managed manufacturing business, advisory/M&A of Renewable Energy Plants, Stressed Mining Projects) and is presently involved in consultancy/ advisory/investment in Real Estate (offline & online brokerage), Turnaround of Stressed Assets and management of an Alternate Investment Fund. The Networth of Noida Holdings as on 15.12.2025 is Rs.12,48,13,978/- and vide similar affidavit dated 03.04.2026 it is clarified that there will be no erosion of the Networth of company as on 31.03.2026 and that the company has receivables of Rs.30.38 Crores.

5. FEASIBILITY AND VIABILITY OF THE PLAN: Form H states that Clause 2, 3, 4, 6, 15, 17 and 18 of the Resolution Plan demonstrates how the Resolution Plan is feasible and Viable. But, a bare reading of aforesaid clauses did not explain it due to which the RP was directed vide order dated 12.03.2026 to file a memo explaining the feasibility and viability of the I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

Resolution Plan. In compliance thereof, the Applicant has filed a memo on 05.04.2026 vide Diary No. 1676, relevant extract whereof is extracted below:-

The aforesaid clauses of the Plan show the feasibility and viability of the Resolution Plan in terms of its implementation and under Section 30(4) of the Code and Regulation 39(3) of the CIRP Regulations, the Creditors have approved the Resolution Plan after considering its Feasibility and Viability. It is further submitted that the SRA has a proven track record of financial stability and operational management, demonstrating both the capability and commitment to fulfil their obligations under the Plan. The SRA’s readiness to promptly deploy necessary resources, coupled with financial strength and relevant experience, provides adequate assurance of the Plan’s feasibility and long-term viability. 6. SOURCE OF FUNDS, PERFORMANCE BANK GUARANTEE AND NETWORTH: • Source of Funds: The SRA has explained the source of funds in clause 12 of the Resolution Plan as follows: Outflow Total Amount of Within 90 Within 6 Infusion (in Crs) days Months CIRP Costs 0.50 0.50 Operational Creditors NIL out of Financial Creditors (secured) NIL contingency provisions) Financial Creditors (Homebuyers) 15.50 4.50 11.00 Contingency (or Homebuyers) 0.50 0.30 0.20 Cost of Transfer of Assets of the 0.80 0.40 0.40 I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

Project Dreamz Samhita TOTAL 17.30 5.70 11.60 Total Amount 90 days 6 Months (in Crs) Infusion by Resolution Applicant 17.30 5.70 11.60 TOTAL (Rupees in Crores) 17.30 5.70 11.60

The Plan proposes that in case of any contingency (including priority settlement of dissenting creditors) wherein additional funds beyond the proposed infusion of Rs 17.30 Cr may be needed, then the same shall be infused by the Resolution Applicant through its group companies/affiliates. • Net-worth: Pursuant to order dated 12.03.2026 the Applicant has filed a memo on 05.04.2026 vide Diary No. 1676 containing statement of Bharath Hi Tech Builders Private Limited net worth of Rs. 58,45,57,186/- as on 31.03.2025 and Annexure -D of the aforesaid memo contains affidavit on behalf of Bharath Hi Tech Builders to the effect that there will be no erosion of the net-worth of company as on 31.03.2026 as company has receivables of Rs.30.38 Crores. The Net-worth certificate of Noida Holdings is at Annexure E for Rs.12,48,13,978/-as on 15.12.2025 and Annexure -G is similar affidavit on its behalf claiming that it has a receivable of Rs.30.38 Crores • Performance Bank Guarantee: The RP has confirmed vide a Memo filed on 25.10.2024 vide dy. No. 6060 that Performance Guarantee of Rs.1,00,00,000/-had been deposited with Kotak Mahindra Bank on 13.09.2024 in the name of Dreamz Infra India Limited vide Deposit No. 8948789278, with auto renewal instructions. The Fixed Deposit was renewed on 21.10.2024 when the deposit along with interest amounted to Rs.1,03,12,705 for a period of 180 days with the maturity date on 12.03.2025 and the instructions on Maturity is to Renew Principal and Interest and until the deposit is closed and amount is withdrawn, the said deposit will be automatically renewed on every maturity date. The current maturity value of FD is Rs. 1,08,63,815/- on 03.09.2026. 7. CAPITAL RESTRUCTURING: The Resolution Plan does not propose any reduction of share capital as the SRA is only taking over the Project Samhita of the Corporate Debtor and therefore the I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 question of capital restructuring of the Corporate Debtor does not arise.

AVOIDANCE TRANSACTIONS, PENDING LITIGATION & IBBI FEE: • Avoidance Transactions- As per Clause 14A of the Form H, the details of PUFE are as follows: Sl. Type of Transaction Amount (Rs.) Date of Filing with No. Adjudicating Authority 2. Fraudulent Transaction Not given 17.1. 2024 u/s 66 Total NA

Though the applicant has mention that an application of Fraudulent Transactions u/s 66 has been filed on 17.01.2024 but a perusal of the material on record reflects that such applicant being IA 535/2026 has been recently filed involving an amount of Rs.16,96,24,061. The CoC/homebuyers have resolved to continue contesting the PUFE/avoidance transactions filed by the Resolution Professional under Chapter III or fraudulent or wrongful trading under Chapter VI of Part II of the Code, after the approval of Resolution Plan, and proceeds thereof shall be apportioned according to their vote share after deducting the expenses. • Pending Litigation- The applicant in compliance of order dated 19.02.2026 in IA 543/2025 has filed a memo detailing list of Pending Litigations against the Corporate Debtor on 09.04.2026 stating as follows a) Writ Appeals WA 207/2020, WA1343/2021 for deciding on the predominance of IBC over KPID Act are pending for final hearing before Hon’ble High Court of Karnataka and the Contempt petition in CCC 483/2024 filed by erstwhile IRP Mr. Ashok Kriplani for his CIRP costs is also pending for final hearing on maintainability, in respect whereof the Division Bench has already recorded their doubts. b) Further, the applicant states that SRA consortium has been informed that the Enforcement Directorate had provisionally attached the immovable property of the Samhitha Project under Provisional Attachment Order No. 03/2022 dated 04.07.2022. Ι.Α.28/2024 was filed for release of said I.A.

(Plan) No. 3/2024 in CP (IB) 113/BB/2022 attached property but it was dismissed by this Authority on the ground of lack of jurisdiction to direct the Enforcement Directorate to de-attach the property. In furtherance of Circular No. IBBI/CIRP/87/2025 dated 04.11.2025 the Resolution Professional has filed an application before the concerned Special Court under Section 8(8) of the Prevention of Money Laundering Act, 2002 in SPL.C.C.92/2024, seeking release and restoration of the attached property. The same is stated to be pending and post approval of Plan, will be pursued by the SRA. c) Vide order dated 21.05.2026, the RP was directed to file an affidavit of SRA stating that they are currently not acting as SRA in any other cases and that they are fully aware of the property of Samhita Project having been attached by the Enforcement Directorate and an application filed by the RP for release of Project is pending consideration before concerned Special Court under PML Act. Ld. Counsel for the RP has filed a brief note in this behalf by way of a memo on 10.06.2026 per dy. no. 6784 and stated that Successful Resolution Applicants M/s. Noida Holdings (P) Ltd and M/s. Bharath Hi Tech Builders Pvt. Ltd have filed Affidavits confirming that they are not acting as a Successful Resolution Applicant in any other insolvency proceedings and that they are fully aware of the attachment of the Samhita Project by the Enforcement Directorate. • IBBI Fee- The amount of regulatory fee payable to the Board under Regulation 31A of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and regulatory fee calculated at the rate of one percent for hiring any professional is booked as the CIRP cost and payable to IBBI on receipt of the CIRP costs from the Resolution Applicant.

8. We have heard Ms. P. Chitra Nirmala, Advocate, learned counsel for the RP/Applicant and carefully perused the material on record. SALIENT FEATURES OF THE RESOLUTION PLAN: 9. Post commencement of CIRP, CoC was constituted by the RP. The details of the creditors, the distribution of voting share among them and the position of voting for the Resolution Plan is as under (Para 5 of Form H): I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

S.No Name of Creditor Voting Voting for Share Resolution Plan (%) (Voted for/ Dissented/ Abstained) 1. Financial Creditors - Class of Creditors (Home 83.05% Voted For Buyers 2. Financial Creditors - Class of Creditors (Home 0% Voted Against Buyers 3. Financial Creditors - Class of Creditors (Home 0% Abstained Buyers Total 100%

10. The details of stakeholders and the amounts provided for them under the Resolution Plan is given in Para 7 of Form H, given below: (Amount in Rupees) S. No. Category of Sub-Category of Amount Amount Amount Amount Stakeholder Stakeholder Claimed Admitted Provided Provided to (In Rs.) (In Rs.) under the the Amount Plan # Claimed (In Rs.) (%) 1 Secured (a) Creditors not having - - - - Financial a right to vote under sub- Creditors section (2) of section 21. (b) Other than (a) above: - - - - (i) who did not vote in favour of the Resolution - - - - Plan (ii) who voted in favour - - - -of the Resolution Plan.

Total - - - - 2 Unsecured (a) Creditors not having - - - - Financial a right to vote under sub- Creditors section (2) of Section 21. (b) Other than (a) above: - - - - (i) who did not vote in favour/abstained of the Resolution Plan (ii) who voted in favour of the Resolution Plan. 41,70,08,481 40,35,36,500 16,00,00,000 39.70% Total[(a) + (b)] 41,70,08,481 40,35,36,500 16,00,00,000 39.70% 3 Operation (a) Related Party of - - - -al Corporate Debtor Creditors (b) Other than (a) above: - - - - (i) Government (ii) Workmen (iii) Employees (iv) Others Total[(a) + (b)] - - - - I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

4 Other - - - - Debts and Dues GRAND TOTAL 41,70,08,481 40,35,36,500 16,00,00,000 39.70% 11. The interest of existing shareholders in the Corporate Debtor that has been altered by Resolution Plan as under, as per Para 8 of Form H is not applicable as it is a CIRP project of the Corporate Debtor only and not the entire Corporate Debtor 12. The compliance of the Resolution Plan as per Para 9 of Form H is hereunder: Section of Requirement with respect to Clause of Resolution Plan Compliance the Code / Resolution Plan (Yes / No) Regulation 25(2)(h) Whether the Resolution Applicant Clause 2- The net worth Yes meets the criteria approved by the CoC criteria approved by CoC is having regard to the complexity and Rs. 2 Crs. Also, funding scale of operations of business of the capability to bring in Rs. 7 CD? crores upfront, if the Resolution is approved. The SRA has provided the Balance sheet of both consortium partners to show the combined Net worth of the Consortium Section Whether the Resolution Applicant is Clause 2. Yes, the SRA is in Yes 29A eligible to submit resolution plan as the shortlisted PRAs. per final list of Resolution Professional or Order, if any, of the Adjudicating Authority? Section Whether the Resolution Applicant has Clause 2 – Submitted Yes 30(1) submitted an affidavit stating that it is affidavit stating his eligible? eligibility - Page 8 Section Whether the Resolution Plan- Clause 5 & 6 - pages 11, 14 Yes 30(2) (a) Provides for the payment of insolvency resolution process costs? (b) Provides for the payment of the Clauses 5 & 9 – pages 11, 19 Yes operational creditors? (c) Provides for the payment to the Clauses 5 & 8 - page 12, 17 Yes financial creditor who did not vote in favour of the Resolution Plan? (d) Provides for the management of Clause 3, 14, 15 – pages 9, Yes the affairs of the Corporate 29, 33 Debtor? (e) Provides for the implementation Clause 14, 15, 16 – pages 29 Yes and supervision of the Resolution to 39 Plan? (f) Contravenes any of the No, also declaration in page No provisions of the law for the time 13 being in force?

I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

Section Whether the Resolution Plan Please refer the minutes of Yes 30(4) (a) is feasible and viable, according to 5th CoC minutes enclosed the CoC? the Application as Annexure (i) (b) has been approved by the CoC with 66% voting share? Section Whether the Resolution Plan has Clause 15 Yes 31(1) provisions for its effective implementation plan, according to the CoC? Regulation Whether the amount due to the Clause 6, 13 Yes 38 (1) operational creditors under the resolution plan has been given priority in payment over financial creditors? Regulation Whether the resolution plan includes a Resolution Applicant Yes 38(1A) statement as to how it has dealt with proposes to make payment the interests of all stakeholders? to various creditors (financial &operational) as per provisions of clause 5 to clause 12 of the resolution plan and undertakes to implement the same as per the provisions of clause 14 to section 16 of the resolution plan. Page 11, 12, 13, etc till page 35 Regulation (i) Whether the Resolution Applicant 38(1B) or any of its related parties has failed to implement or contributed to the failure of implementation of any Clause 5, page 13 No resolution plan approved under the Code.

(ii) If so, whether the Resolution Applicant has submitted the statement giving details of such non-implementation? Regulation Whether the Resolution Plan provides: 38((b2)) (a) The term of the plan and its Resolution Applicant Yes implementation schedule? proposes to make payment to various creditors (financial &operational) as per provisions of section 6 to Section 14 of the resolution plan and undertakes to implement the same as per the provisions of section 16 to section 18 of the resolution plan. (c) (b) For the management and control of Clauses 3, 14, 15 in pages 9, Yes the business of the Corporate Debtor 30 to 35 during its term? (d) (c) Adequate means for supervising its Clause 14 (3) in pages 30 to Yes implementation? 35 Regulation Whether the resolution plan demonstrates that- 38(3) (a) it addresses the cause of default? Clause 2, 3, 4, 14, 15, in Yes (b) it is feasible and viable? pages 4-5, 9, 30 to 35 (c) it has provisions for its effective implementation? I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 (d) it has provisions for approvals required and the timeline for the same?

(e) the resolution applicant has the capability to implement the resolution plan? Regu(leat)i on Whether the RP has filed applications Yes, RP has filed avoidance Yes 39(2) in respect of transactions observed, application. This is dealt found or determined by her? with in Synopsis (page 5) Clause 5 (f) Regulation Provide details of performance security Clause 14 (1)- page 29 (g) Yes 39(4) received, as referred to in sub-regulation (4A) of regulation 36B.

13. At this juncture it is necessary to refer to Section 30(2) of IBC which is as follows: “30. Submission of Resolution Plan: ….. (2) The resolution professional shall examine each Resolution Plan received by him to confirm that each Resolution Plan- (a) provides for the payment of insolvency resolution process costs in a manner specified by the Board in priority to the 3[payment] of other debts of the corporate debtor; (b) provides for the payment of debts of operational creditors in such manner as may be specified by the Board which shall not be less than the: i. amount to be paid to such creditors in the event of liquidation of the corporate debtor under section 53; or ii. the amount that would have been paid to such creditors, if the amount to be distributed under the Resolution Plan had been distributed in accordance with the order of priority in sub-section (1) of Section 53, whichever is higher, and provides for the payment of debts of financial creditors, who do not vote in favour of the Resolution Plan, in such manner as may be specified by the Board, which shall not be less than the amount to be paid to such creditors in accordance with sub-section (1) of section 53 in the event of a liquidation of the Corporate Debtor.

Explanation 1. – For removal of doubts, it is hereby clarified that a distribution in accordance with the provisions of this clause shall be fair and equitable to such creditors. Explanation 2. – For the purpose of this clause, it is hereby declared that on and from the date of commencement of the Insolvency and Bankruptcy Code (Amendment) Act, 2019, the provisions of this clause shall also apply to the corporate insolvency resolution process of a corporate debtor- (i) where a Resolution Plan has not been approved or rejected by the Adjudicating Authority; (ii) where an appeal has been preferred under section 61 or section 62 or such an appeal is not time barred under any provision of law for the time being in force; or (iii)where a legal proceeding has been initiated in any court against the decision of the Adjudicating Authority in respect of a Resolution Plan; (c) provides for the management of the affairs of the Corporate Debtor after approval of the Resolution Plan; I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 (d) The implementation and supervision of the Resolution Plan; (e) does not contravene any of the provisions of the law for the time being in force.

(f) conforms to such other requirements as may be specified by the Board.” 14. REGULATORY COMPLIANCES: The compliance of the Resolution Plan as per Para 9 of Form H is further examined as under: a) Section 30(2)(a): The clause 6 of the Resolution Plan states that the Resolution Applicant undertakes to pay an amount of ₹50 lakh towards CIRP costs till the Effective Date which shall be paid in priority over repayment to Financial Creditors, Operational Creditors, or settlement of any other creditor's claims within 90 days of the effective date from the Contingency provisions. It is also clarified that the fees of 0.25% of the resolution plan value payable to IBBI shall be considered to be part of the CIRP cost and shall be paid in top priority within 90 days of the effective date b) Section 30(2)(b): As per Section 30(2)(b) of IBC Code, 2016 payment of debts of Operational Creditors should be in such a manner as may be specified by the Board, which shall not be less than the amount to be paid to the Operational Creditors in the event of liquidation of Corporate Debtor under Section 53. It is further noted that no claims have been submitted by the operational Creditors; accordingly, no amount is proposed towards such claims but in case any amount of claim is admitted in future, Successful Resolution Applicant has proposed to pay it from contingency fund as per which Workmen & Employees will be paid 100% of the Admitted amount from the contingency fund and all other Operational Creditors will be paid 1% of the Admitted amount from the contingency fund.

Accordingly, the dues of the Operational Creditors will get paid in compliance to Section 30(2)(b). The balance of Contingency fund will enure to the homebuyers to be disbursed according to their vote share in CoC. c) Section 30(2)(c): Clause 5 talks about payment to dissenting financial creditors and states that dissenting financial creditors, who do not vote in I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 favour of the resolution plan shall receive in priority to other financial creditors an amount that is not less than the liquidation value of their debt, shall be paid as per the provisions of Section 30(2)(b) of the Code. d) Section 30(2)(d): The Clause 14 of the Plan states that the entire implementation of this resolution plan shall be supervised by a Supervisory Committee which comprising of following shall be constituted within 7 days of the effective date: - • One Member to be appointed as a representative of stakeholders being Allottees/Unsecured/Secured Financial Creditor • One member to be appointed as a representative of the Resolution Applicant • Resolution Professional (RP) to be appointed as Chairman of the Supervisory Committee (in case the RP decides not to become a member of the committee then an independent person/agency shall be appointed in his place).

A fixed monthly fees of Rs 50,000 shall be payable to the Resolution Professional in her capacity as Chairperson of the Supervisory Committee throughout its life. In addition, out of pocket expenses on actuals shall be payable to all the members of the Supervisory Committee. The Committee shall stand discharged on full and final payment under the Plan. e) Section 30(2)(e): The implementation of the Resolution Plan shall be carried out by the Resolution Applicant under the supervision of the Supervisory Committee till the completion of all the resolution proposals as mentioned in the resolution plan and during the Implementation period the Supervisory Committee shall carry on the business with reasonable diligence and business prudence and shall not undertake any additional financial commitments of any nature whatsoever. During the period from the Effective Date till the complete implementation of the resolution plan all costs and expenses (as approved by the Supervisory Committee) to be incurred for payment to the Supervisory Committee members shall be met, arranged, borne and paid by the Resolution Applicant.

The Supervisory I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

Committee shall be dissolved on the complete implementation of the resolution plan f) Section 30(2)(f): The Clause 5 of the Resolution Plan confirms that the Resolution Plan is not in contravention of any of the provisions of the applicable laws for the time being in force. g) Regulation 36B (4A): The Applicant had filed a memo on 25.10.2024 vide Diary No. 6060 stating that Performance Guarantee of Rs.1,00,00,000/- had been deposited with Kotak Mahindra Bank on 13.09.2024 in the name of Samhita project with Deposit No. 8948789278, with auto renewal instructions. h) It is stated that Resolution Plan complied with Regulation 38 of the IBBI (Insolvency process for Corporate Persons) Regulations, 2016 as follows 1) Regulation 38(1): It is stated that no claims have been submitted by the Operational Creditors, accordingly, no amount is proposed towards such claims but in case any claim is admitted in future, Successful Resolution Applicant has proposed to pay it from contingency fund as per which Workmen & Employees will be paid 100% of the admitted amount from the contingency fund and all other Operational Creditors will be paid @1% of the admitted amount from the contingency fund. 2) Regulation 38(1A): The Resolution Applicant has considered the interest of all the stakeholders and accordingly proposed to pay to the stakeholders in the following manner:

S. Resolution to Amount to be paid No Creditors as below 1 Payment of CIRP Cost Rs 0.50 Cr on Priority within T+90 days 2 Resolution of HOME A sum of Rs 15.50 Cr shall be paid to the financial creditors in the class of BUYERS whose claims home buyers within 6 months of the effective date of which Rs 4.50 Cr shall are admitted till the be paid within 90 days of the effective date. effective date (i.e. Date This amount shall be distributed to the financial creditors in a class in the of approval of ratio of their admitted claims. Resolution plan by Claims filed after the timeline of 30 days of the effective date shall not be NCLT). admitted and shall be deemed to settled @ NIL 3 Resolution of There are no admitted claims from any Secured/Unsecured Creditors and Secured/Unsecured thereby the Resolution Amount offered is NIL. In case any claims of I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

Financial Creditors not secured/unsecured creditor are admitted before the effective date then the of any class same shall be settled @ 1% of the admitted claims from the contingency provisions of this resolution plan. 4 Resolution of Settlement of Workmen- There are no admitted claims, In case any claims Operational Creditors are admitted before the effective date the same shall be settled @ 100% of the admitted claims from the contingency provisions of the resolution plan Settlement of Statutory dues- There are no admitted claims, In case any claims are admitted before the effective date the same shall be settled @ aggregate amount of Rs 1% of the admitted claims from the contingency provisions of the resolution plan Settlement of Operational creditors apart from Workmen and Statutory dues - 1% of the admitted claims from the contingency provisions of the resolution plan 5 Resolution of For secured Financial Creditors, provision to pay as per Section.53 IBC is Dissenting Financial made. Since the Financial creditors are a Class, this category is not creditors applicable and hence provision is Nil. 6 Resolution of Related All other Related Parties (creditors) settled @ NIL Party 7 Contingency Rs 0.50 Cr (any amount leftover from this shall be paid to the Financial Creditors i.e. Home buyers)

3) Regulation 38(1B): The Clause 5 of the Resolution Plan confirms that as on date the Resolution Applicant or any of their related parties have not failed to implement or contributed to the failure of implementation of a Resolution Plan approved under the code. 4) Regulation 38(3)(a): Clause 3 of the Resolution Plan details the cause of Default of the Corporate Debtor and the possible reasons for the present stressed situation of the corporate debtor are the Financial mismanagement and Operational Inefficiency of the Corporate Debtor, Financial Mismanagement in other group companies/projects resulting in funds diversion from the Corporate Debtor, Slow-down in the real-estate market and increase in cost of construction, due to which the corporate debtor got into an impossible debt trap. The Resolution Applicant has drawn out a multi-pronged strategy for revival of the Corporate Debtor as under Infusion of the necessary funding within 12 months of the effective date with sizeable upfront payment/ Assignment/transfer/encumbrance of rights in the land in favour of the corporate debtor, Settlement of the financial creditors and the Home Buyers by offer of cash payment. I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

5) Regulation 38(3)(b): Para 9 of Form H states that Clause 2, 3, 4, 6, 15, 17 and 18 of the Resolution Plan reflect feasibility and Viability of Resolution Plan. Since it was not borne out in so many words, the RP was directed to supply the deficiency vide order dated 12.03.2026. In compliance, the RP applicant has filed a memo on 05.04.2026 through dy. no. 1676 quoting aforesaid clauses of the Plan to show the feasibility and viability of the Resolution Plan. 6) Regulation 38(3)(c): Clause 15 of the Resolution Plan provides for the indicative timeline for implementation, which is reproduced below: S. No. Event Timeline Stage-A-Approval of Resolution Plan 1. Approval of Plan by CoC and issuance of Letter of A intent 2. Acceptance of Letter of Intent by RA A + 2 days 3. Submission of Relevant PBG and return of the A+ 7 days BG/EMD deposited along with the Resolution Plan. 4. Submission of Relevant PBG and return of the X BG/EMD deposited along with the Resolution Plan. 5. Application to NCLT for approval of Resolution Plan by RP 6. Approval by NCLT of Resolution Plan and receipt of B order 7. Notice on the Corporate Debtor's website by CD/RP Within B + 10 8. Intimation to the Governmental Authorities, if Days required in terms of the Applicable Law by CD/RP Stage-B- Implementation of Resolution Plan 1. Formation of Supervisory Committee of 3 member to Within B + 7 Monitor and Supervise the Implementation of the Days resolution plan by RP/CoC 2. Vacating all the encumbrances on the assets of the Within B + 60 Project Dream Samhita Days 3. Filing for renewals of all expired approvals and NOCs 60 days after the pertaining to Project Dream Samhita Effective date Stage- C- Settlement of Creditors 1. Payment of CIRP Costs in priority to any other B+ 90 Days payment under the Plan 2 Payment to the operational creditors (as defined in the B + 90 Days Code) in accordance with the terms of this Plan.

3. Payment to all the financial Creditors (secured/un- Commencing secured) in accordance with the Plan (including from B+90 days, Homebuyers, Landowners, Cancelled Flats final payments to Owners/Other Creditors) be done within B+ 6 Months 4. Cancellation of the earlier allotment/allocation BBAs Commencing I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 from B+90 Days and to be completed before payment of the resolution amount to the creditor. 5. Execution of Agreement to Sell of the Assets of the Within 10 days of Project Dream Samhita in favour of the Resolution the Upfront Applicant/SPV Payment 6. Execution of Transfer/Sale deed of the Assets of the Within 10 days of Project Dream Samhita in favour of the Resolution the full and final Applicant/SPV payments as per the terms of this resolution plan 7) Regulation 38(3)(d): The time-line for approvals of Resolution Plan is stated in Para 11 of the Form-H, reproduced below: S. No. Nature of Name of the Name of When to be obtained Approval Applicable Authority Law who will grant Approval 1 RERA RERA RERA Within 60 days of Registration Approval by AA 2 Drawings BBMP BBMP Within 60 days of Approval Approval by AA

8) Regulation 38(3)(e): The SRA consortium comprising of Bharath Hi Tech Builders Private Limited and Noida Holdings Private Limited has a strong financial standing which is evident as per the memo filed by the Applicant on 05.04.2026 wherein it is stated that Bharath Hi-Tech Builders has a net worth of Rs. 58,45,57,186 as on 31.03.2025. The Net worth certificate of Noida Holdings attached to the memo states that Noida Holding has a net worth of Rs.12,48,13,978 as on 15.12.2025 and also contains affidavit by Noida Holdings stating that there will be no erosion of the Net worth of company as on 31.03.2026 and it has receivables of Rs.30.38 Crores. Moreover, Bharath Hi Tech Builders Private Limited has undertaken building of several housing complexes namely Gold Tower, Radhakrishna Complex, Lakshmi Residential Layout, Chetan Layout, Vijaya Residential Layout, Hinkel Layout and Mysore Meadows at Mysore which demonstrates the capability of I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 the SRA consortium to implement the plan. In any case, the claims of all homebuyers under this Plan are getting settled on monetary payment.

a. HOME-BUYERS DETAILS:

b. List of Homebuyers: As per memo filed dated 13.05.26, diary no. 6292, is reproduced below: Paid as per Apart Addl. Timel Time Timelin Voting Sale ment/R Amt ines lines e of % Agreement efund @Rs for for Refund ___/s Payin Payi Amount Carpet Total Sale qft g Name of Home Unit ng of by S. No. Area Considerati Balan Buyer No. Amt Resoluti (sq.ft) on (in Rs.) ce as on Amt per Applica Plan nt (upto) 1 Taruna N 107 1325 36,30,000 0 Refund NIL NA NA 6 Months - Khodani 2 Geetha Rao K 118 1400 26,92,000 14,13,000 Refund NIL NA NA 6 Months 0.65 3 Abhishek Sarkar 401 950 26,00,000 16,29,011 Refund NIL NA NA 6 Months 0.67 4 Mohanasundaram NA 950 30,00,000 11,50,000 Refund NIL NA NA 6 Months 0.49 Madhesan 5 Soney P L NA 950 28,30,000 8,52,348 Refund NIL NA NA 6 Months 0.36 6 Brahmanand 405 1242 36,30,000 13,25,700 Refund NIL NA NA 6 Months 0.51 Reddy 7 Ravi Kumar NA 1200 25,30,000 17,71,746 Refund NIL NA NA 6 Months 0.73 Oblapur 8 Akanksha NA 1347 32,80,000 17,83,437 Refund NIL NA NA 6 Months 0.75 Agnihotri 9 V Jai Raj 109 1325 40,00,000 14,73,000 Refund NIL NA NA 6 Months 0.67 10 Mahesh S 103 1100 22,30,000 22,00,000 Refund NIL NA NA 6 Months 0.93 11 Sreedharamurthy 104 950 24,50,000 8,57,350 Refund NIL NA NA 6 Months 0.39 S L 12 Venkatesh Bairy NA 1100 26,30,000 7,80,000 Refund NIL NA NA 6 Months 0.33 13 Dinesh G B 950 20,30,000 14,50,000 Refund NIL NA NA 6 Months 0.58 14 Kavya B NA 950 29,00,000 21,40,000 Refund NIL NA NA 6 Months 0.84 15 M Lakshmi Devi NA 1325 28,00,000 19,94,000 Refund NIL NA NA 6 Months 0.84 16 Ramesh Reddy 115 1347 35,30,000 12,28,000 Refund NIL NA NA 6 Months 0.56 Polam 17 Jawerchand - 950 26,30,000 13,65,000 Refund NIL NA NA 6 Months 0.56 Mehta NA- 18 Chowdadas NA 1100 23,00,000 11,50,000 Refund NIL NA NA 6 Months 0.49 I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

Chowdappa Nareppa 19 Arjun V Kashyap 210 1325 32,00,000 22,50,000 Refund NIL NA NA 6 Months 1.05 20 Hanuman Chand 302 950 25,30,000 15,62,500 Refund NIL NA NA 6 Months 0.66 Gadiya Shazia 510 1325 19,27,500 Refund NIL 6 Months 0.85 21 Mohammed 30,30,000 NA NA Meeran 22 Praveena 114 950 8,57,500 8,59,624 Refund NIL NA NA 6 Months 0.39 Basavaraju 23 Srinivasa Kumari 112 1242 32,30,000 15,75,500 Refund NIL NA NA 6 Months 0.64 Kummirigunta 24 Sajjan Raj 402 950 25,30,000 15,62,500 Refund NIL NA NA 6 Months 0.66 Gadiya 25 Jyothi 410 1512 32,30,000 19,04,500 Refund NIL NA NA 6 Months 0.88 Devarkonde 26 Bhaskara 202 44,22,500 44,22,500 Refund NIL NA NA 6 Months 1.77 Bhujanga Rao 27 Venkatakrishnan 203 950 28,00,000 11,10,730 Refund NIL NA NA 6 Months 0.50 Sivaramakrishnan 28 Gururaj 010 1325 30,30,000 7,22,250 Refund NIL NA NA 6 Months 0.36 Devaramani 29 Venkataramana NA 950 15,30,000 16,27,500 Refund NIL NA NA 6 Months 0.74 Rao A Virendra 009 1325 35,00,000 24,03,085 Refund NIL 6 Months 1.02 30 Swaroop NA NA Srivastava 31 Suhail Ahmed 504 950 21,30,000 13,49,250 Refund NIL NA NA 6 Months 0.59 32 Girijamma P 005 950 16,30,000 8,00,000 Refund NIL NA NA 6 Months 0.39 33 Padma 306 950 34,30,000 18,80,000 Refund NIL NA NA 6 Months 0.78 Shivashankar 34 S Jyothi Rao NA 1325 36,30,000 18,00,000 Refund NIL NA NA 6 Months 0.76 35 Panyam 1347 26,00,000 13,00,000 Refund NIL NA NA 6 Months 0.57 Pampapathy 36 Prasad Simpi 408 1325 36,50,000 14,43,117 Refund NIL NA NA 6 Months 0.65 37 Ramya Bhargav 307 1325 39,75,000 16,52,923 Refund NIL NA NA 6 Months 0.74 38 Vinayak 514 950 21,40,000 7,83,000 Refund NIL NA NA 6 Months 0.34 Badkundri 39 Saroj Singh 508 1325 42,30,000 15,46,650 Refund NIL NA NA 6 Months 0.67 40 Sujatha T S 209 1150 25,30,000 12,00,000 Refund NIL NA NA 6 Months 0.49 41 Ramadurgam 204 950 23,30,000 14,08,750 Refund NIL NA NA 6 Months 0.64 Naga Padmavathi 42 Vamsi Kiran 102 1463 30,00,000 11,22,250 Refund NIL NA NA 6 Months 0.52 Pulakunta 43 Vanita Sanjay 301 1463 25,00,000 10,87,500 Refund NIL NA NA 6 Months 0.49 Kumbhare 44 V Srinivas Rao NA 1100 24,30,000 12,00,000 Refund NIL NA NA 6 Months 0.51 45 Anantha Prabhu 404 950 30,30,000 10,86,225 Refund NIL NA NA 6 Months 0.47 46 Usha N 512, 1900 50,00,000 15,00,000 Refund NIL NA NA 6 Months 0.66 513 47 Sonia Daniel 017 950 20,00,000 11,35,000 Refund NIL NA NA 6 Months 0.52 48 Mahesh Hiremath 107 1325 45,30,000 24,97,500 Refund NIL NA NA 6 Months 1.11 49 Gowtham HB NA 1100 12,00,000 12,00,000 Refund NIL NA NA 6 Months 0.51 I.A.

(Plan) No. 3/2024 in CP (IB) 113/BB/2022

50 Parthasarathi 415 1347 11,98,400 8,00,000 Refund NIL NA NA 6 Months 0.37 Doraisamy 51 Anil Vasant 003 950 27,30,000 18,89,204 Refund NIL NA NA 6 Months 0.82 Chitragar 52 Suvarna S 515 1347 36,00,000 16,85,000 Refund NIL NA NA 6 Months 0.73 53 Vijay Kumar 110 1325 30,00,000 6,22,250 Refund NIL NA NA 6 Months 0.32 Desai 54 Ashutosh 218 1400 40,75,529 26,40,000 Refund NIL NA NA 6 Months 1.07 55 Praveena Rottela 308 1325 10,50,000 10,22,250 Refund NIL NA NA 6 Months 0.47 56 S Srinivasa 409 1325 29,00,000 29,00,000 Refund NIL NA NA 6 Months 1.28 Murthy 57 Vakeel Ur 501 1463 33,37,000 15,00,000 Refund NIL NA NA 6 Months 0.69 Rahman 58 Chithra S NA 1463 44,30,000 22,00,000 Refund NIL NA NA 6 Months 0.88 59 Shashikant Pai 503 950 21,30,000 11,50,000 Refund NIL NA NA 6 Months 0.51 60 Satyanarayana 117 1325 35,30,000 13,63,952 Refund NIL NA NA 6 Months 0.59 Repaka 61 Milana 512 1325 39,30,000 23,10,000 Refund NIL NA NA 6 Months 0.95 Shivashankar 62 K B Nagaraja 217 950 21,30,000 7,29,105 Refund NIL NA NA 6 Months 0.33 63 V.Shyam Sundar 305 1242 30,00,000 8,95,000 Refund NIL NA NA 6 Months 0.39 64 Suguna R 401 950 21,30,000 21,00,000 Refund NIL NA NA 6 Months 0.90 65 Hemanalini NA 1100 23,30,000 11,50,000 Refund NIL NA NA 6 Months 0.49 Gopal 66 Krishnamurthy 502 1325 33,26,000 25,35,600 Refund NIL NA NA 6 Months 1.12 Agrahar 67 Kalpana J Vyas 403 950 24,30,000 9,99,000 Refund NIL NA NA 6 Months 0.40 68 Bharath B P 313 1242 38,45,000 12,45,796 Refund NIL NA NA 6 Months 0.56 69 Niranjan 207 1325 31,00,000 29,39,000 Refund NIL NA NA 6 Months 1.34 Somayaji 70 Bhagyalakshmi 211 1400 25,30,000 12,00,000 Refund NIL NA NA 6 Months 0.49 Vannala 71 Veena Mahesha 208 1325 30,30,000 2,39,250 Refund NIL NA NA 6 Months 0.19 72 Subash Das NA 1150 23,30,000 7,00,000 Refund NIL NA NA 6 Months 0.28 73 Narasinga Rao 314 950 28,68,750 25,00,000 Refund NIL NA NA 6 Months 1.06 Kashyap 74 H.S.

Mahendra 214 950 8,40,000 7,45,000 Refund NIL NA NA 6 Months 0.34 75 Sachin Bhan NA 950 30,30,000 7,66,500 Refund NIL NA NA 6 Months 0.34 76 Rajarajeshwari 007 1325 38,00,000 14,90,000 Refund NIL NA NA 6 Months 0.69 Nagarajan 77 Pushpa Devi 101 1463 12,55,000 11,32,375 Refund NIL NA NA 6 Months 0.52 Agarwal 78 Veeresh Kolli 204 950 10,50,000 3,95,250 Refund NIL NA NA 6 Months 0.21 79 Padmavathi L 216 950 7,35,000 7,31,175 Refund NIL NA NA 6 Months 0.33 80 Kavita Sharma 211 1242 34,00,000 27,03,668 Refund NIL NA NA 6 Months 1.16 81 A N Anitha 506 950 30,30,000 12,75,000 Refund NIL NA NA 6 Months 0.57 82 Prabhukumar T NA 1347 33,30,000 9,90,000 Refund NIL NA NA 6 Months 0.42 Hugar 83 Nagakishor 110 1242 31,70,000 9,25,000 Refund NIL NA NA 6 Months 0.37 Karnam 84 Sampreeth Reddy 509 1325 31,30,000 11,18,000 Refund NIL NA NA 6 Months 0.50 I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022

S 85 Shailaja 010 1325 35,30,000 21,03,084 Refund NIL NA NA 6 Months 0.87 Shivamallu 86 Vikram Raj 201 950 25,30,000 13,12,500 Refund NIL NA NA 6 Months 0.56 87 Mahesha 108 1325 30,00,000 4,22,250 Refund NIL NA NA 6 Months 0.24 88 Balachandra KG 012 1300 22,30,000 8,00,000 Refund NIL NA NA 6 Months 0.32 89 Abdul Azeed 403 1100 26,80,000 17,24,937 Refund NIL NA NA 6 Months 0.73 90 Sapna D Chajed NA 950 25,00,000 12,50,000 Refund NIL NA NA 6 Months 0.53 91 Akshay Uppunda NA 1100 26,00,000 7,80,000 Refund NIL NA NA 6 Months 0.33 92 R Rathna NA 1347 44,30,000 13,20,000 Refund NIL NA NA 6 Months 0.58 Rajendrababu 93 K Siva Prakash 302 1463 31,99,000 9,75,000 Refund NIL NA NA 6 Months 0.45 94 Divya Sudhakar NA 950 30,00,000 13,14,000 Refund NIL NA NA 6 Months 0.58 95 Nagaraj B N 316 950 22,00,000 13,05,675 Refund NIL NA NA 6 Months 0.59 96 Deepa Ganesh 503 1463 43,30,000 15,84,988 Refund NIL NA NA 6 Months 0.70 97 Manjunatha L 401 1463 41,50,000 43,54,500 Refund NIL NA NA 6 Months 1.93 98 Damodar 311 1242 27,30,000 19,71,000 Refund NIL NA NA 6 Months 0.84 Moreshwar 12, 2192 35,27,580 34,53,107 Refund NIL 6 Months 1.55 99 Manohar 014 NA NA Vaingankar 100 Rajkumar NA 1100 25,50,000 7,65,000 Refund NIL NA NA 6 Months 0.32 101 Suresh Kumar 208 1325 30,30,000 18,06,750 Refund NIL NA NA 6 Months 0.77 Muthkur 102 Joseph Antony 502 550 12,32,000 11,08,800 Refund NIL NA NA 6 Months 0.45 103 Vasu R S 113 1242 36,30,000 21,36,150 Refund NIL NA NA 6 Months 0.95 104 Rekha Suresh 407 1325 3,85,00,000 29,01,500 Refund NIL NA NA 6 Months 1.29 105 Giridhar Gopal 211 1242 28,00,000 11,70,000 Refund NIL NA NA 6 Months 0.53 Motiram 106 Chethan Nanak 402 1325 33,00,000 20,44,762 Refund NIL NA NA 6 Months 0.91 107 Padma K 218 1400 30,30,000 10,43,205 Refund NIL NA NA 6 Months 0.47 108 Palakshaiah 315 1347 33,50,000 20,00,500 Refund NIL NA NA 6 Months 0.88 109 Ramappa 215 1347 35,50,000 13,02,150 Refund NIL NA NA 6 Months 0.59 Chalapathy 110 Shanthalakshmi 318 1400 30,30,000 10,43,205 Refund NIL NA NA 6 Months 0.47 L 111 Brinda Sudhakar 008 1325 37,40,000 27,50,000 Refund NIL NA NA 6 Months 1.24 Babu 112 Aslam Hussain B NA 1100 26,50,000 15,76,750 Refund NIL NA NA 6 Months 0.69 113 Ishwar M Hegde 317 950 21,00,000 12,12,375 Refund NIL NA NA 6 Months 0.54 114 Sudarshan B K NA 950 23,00,000 13,80,000 Refund NIL NA NA 6 Months 0.58 115 Venkatappayya B NA 950 30,00,000 9,00,000 Refund NIL NA NA 6 Months 0.40 116 Prasanna Kumar N/A 1100 32,00,000 16,00,000 Refund NIL NA NA 6 Months 0.68 Kn 117 Vikram PR 301 950 25,30,000 14,31,250 Refund NIL NA NA 6 Months 0.61 B 118 Murugesan R 001 1463 35,00,000 12,27,067 Refund NIL NA NA 6 Months 0.56 119 Rajasekaran P 203 950 25,00,000 10,20,000 Refund NIL NA NA 6 Months 0.44 I.A.

(Plan) No. 3/2024 in CP (IB) 113/BB/2022

120 D Chandra 6 950 30,30,000 9,00,000 Refund NIL NA NA 6 Months 0.40 Shekar Rao 121 Col Sudhir 005, 1900 42,30,000 42,00,000 Refund NIL NA NA 6 Months 1.86 Chakravarty 004 122 Koteswara Rao 112 1242 33,30,000 9,00,000 Refund NIL NA NA 6 Months 0.42 Mudduluru 123 K P Ananth 212 1242 28,30,000 14,00,000 Refund NIL NA NA 6 Months 0.59 124 B Rama Mohan 510 1325 25,30,000 25,00,000 Refund NIL NA NA 6 Months 1.06 Rao 125 Sunil Tikoo NA 950 30,00,000 7,66,500 Refund NIL NA NA 6 Months 0.34 126 Rajesh NK 201 1463 38,00,000 20,01,378 Refund NIL NA NA 6 Months 0.91 127 Harish H NA 950 30,30,000 10,00,000 Refund NIL NA NA 6 Months 0.41 128 Rajesh Grandhi 406 950 25,00,000 6,51,000 Refund NIL NA NA 6 Months 0.30 V.B. 518 1400 41,00,000 21,63,425 Refund NIL 6 Months 0.97 129 Ramakrishna NA NA Gorty 130 Kirti Badkundri 516 950 21,40,000 6,42,000 Refund NIL NA NA 6 Months 0.28 131 Manjunath O NA 1200 25,30,000 14,09,229 Refund NIL NA NA 6 Months 0.57 132 Sureshappa S NA 950 27,30,000 13,50,000 Refund NIL NA NA 6 Months 0.56 133 Premjeet Kumar 206 950 28,00,000 11,20,000 Refund NIL NA NA 6 Months 0.47 134 Jayasakthivel 015 1347 32,00,000 11,21,890 Refund NIL NA NA 6 Months 0.51 Angamuthu 135 Manjunath V 210 1400 25,30,000 12,00,000 Refund NIL NA NA 6 Months 0.49 136 Srinivasa Rao 511 1242 35,00,000 20,00,000 Refund NIL NA NA 6 Months 0.88 Phaniraj 137 Mumtaz Sheerin 101 1100 30,68,000 15,34,000 Refund NIL NA NA 6 Months 0.66 138 Venkatesh NA 950 30,30,000 11,77,000 Refund NIL NA NA 6 Months 0.52 Vamana Kamath Katimada NA 1463 33,00,000 16,50,000 Refund NIL 6 Months 0.70 139 Poonacha NA NA Ponnappa 140 Prasanna SV 404 950 25,00,000 14,74,966 Refund NIL NA NA 6 Months 0.66 141 Kalinmane 006 950 25,30,000 16,78,125 Refund NIL NA NA 6 Months 0.73 Vijaykumar Gowripura 213 1242 39,30,000 17,94,790 Refund NIL 6 Months 0.80 142 Narasimhamurthy NA NA Venkatarama Rao 143 Narasimharaju P 102 950 19,30,000 0 Refund NIL NA NA 6 Months - Rayasamudra 302 1325 26,50,000 5,00,000 Refund NIL 6 Months 0.17 144 Venkatchalaiah NA NA Prakasha 145 Sudipa Shome 309 1400 34,50,000 2,00,000 Refund NIL NA NA 6 Months 0.08 146 Abhijeet Kabbur 110 1325 34,00,000 19,00,040 Refund NIL NA NA 6 Months 0.79 147 Anilkumar K C 101 950 21,00,000 21,00,000 Refund NIL NA NA 6 Months 0.88 148 T M Somaraju 212 1242 28,00,000 15,85,671 Refund NIL NA NA 6 Months 0.69 149 Suresh GD 507 1325 27,30,000 14,10,500 Refund NIL NA NA 6 Months 0.62 150 Ganesh Adiga G 004 950 24,00,000 8,19,500 Refund NIL NA NA 6 Months 0.37 151 Gopal Deshak 304 950 27,00,000 10,93,500 Refund NIL NA NA 6 Months 0.46 152 Rammohan 403 950 24,00,000 9,20,750 Refund NIL NA NA 6 Months 0.41 Shetty I.A.

(Plan) No. 3/2024 in CP (IB) 113/BB/2022

153 Vidya Bhushan 209 1325 27,62,500 16,37,312 Refund NIL NA NA 6 Months 0.74 Kumar 154 Vinaya R Mally 309 1325 36,00,000 16,26,750 Refund NIL NA NA 6 Months 0.73 155 Srinivas Kn 205 1242 36,00,000 21,46,500 Refund NIL NA NA 6 Months 0.96 156 Prakruthi K J 117 950 19,00,000 2,97,250 Refund NIL NA NA 6 Months 0.21 157 Srinivasan S T 111 1242 31,30,000 14,39,463 Refund NIL NA NA 6 Months 0.68 Total 1,85,189 48,91,56,759 22,94,72,365 100

15. The Resolution Professional has certified that the Resolution Plan is not subject to any contingency in Para 12 of Form-H. Further, in Resolution Plan it is certified that the Resolution Plan complies with all the provisions of Insolvency and Bankruptcy Code, 2016 and the Regulations thereunder and also does not contravene any of the provisions of the law for the time being in force. The SRA has submitted an affidavit under section 30(1) of the Code confirming its eligibility under Section 29A of the Code to submit the Resolution Plan and that the Resolution Plan has been approved by the CoC in accordance with the provisions of the Code and the CIRP Regulations made thereunder with 83.05% vote share after considering all the requirements specified by the CIRP Regulations.

16. Reliefs and Concessions: In Clause 16 of the Plan, the Resolution Applicant has urged for exemption of compliance in relation to Companies Act, 2013, Taxes (Direct & Indirect) & Stamp Duty as well as Specific Laws, other Government Approvals as applicable to the Corporate Debtor. The Prayer has been examined and it is observed that for such reliefs and exemptions, the Resolution Applicant will have to approach the respective statutory authorities for being accorded and decided as per the provisions of concerned existing laws and landmark judgements. Further, the approval of the Resolution Plan shall not in itself be construed as waiver of any statutory obligations/liabilities and any waiver sought in the Resolution Plan, shall be subject to approval by the Authorities concerned in light of the Judgment of Supreme Court in Ghanshyam Mishra and Sons Private Limited v/s. Edelweiss Asset Reconstruction Company Limited (Civil Appeal no. 8129 of 2019).

17. It must be noted that the Resolution Professional has filed an affidavit of SRA stating that they are not acting as SRA in any other cases and that they are fully I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 aware of Samhita Project lying attached by the Enforcement Directorate and as an application of RP for release of Project is pending consideration before concerned Special Court, dealing with ED matter and the M/s. Noida Holdings (P) Ltd and. Bharath Hi Tech Builders Pvt. Ltd state on affidavit that they are fully aware of the attachment of the Samhita Project by the Enforcement Directorate and are not acting as Successful Resolution Applicant in any other insolvency proceedings.

18. DECISION OF THE ADJUDICATING AUTHORITY: In the circumstances and for the aforesaid reasons, the application bearing I.A. (Plan) No. 03 of 2024 is allowed and accordingly: It is clarified that Out of 156 homebuyers constituting CoC, 126 had participated in voting on the Resolution Plan while rest had abstained. Somehow their absence did not get registered appropriately in the voting sheet. i. The Resolution Plan marked as Annexure J, submitted by Consortium of M/s Bharath Hi Tech Builders Private Limited and M/s Noida Holdings Private Limited, in respect of the Corporate Debtor, is hereby approved. The Resolution Plan Value under the Plan is Rs. 17,30,00,000/- including infusion of funds proposed for Homebuyer Project Completion and Rs. 50,00,000/- as CIRP cost. The payment under Plan shall be made by the SRA within given timeline irrespective of the time taken in disposal of pending application before Ld. Special Court under PMLA, Bengaluru. ii. The Resolution Plan so approved shall be binding on the Corporate Debtor, its employees, members, homebuyers, creditors, including the Central Government, State Government or any local authority to whom a debt in respect of the payment of dues arising under any law for the time being in force such as authorities to whom statutory dues are owed, guarantors and other stakeholders involved in the Resolution Plan. iii. Under the provisions of section 31(3) of the Code, we also direct as under:

I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 a. The moratorium imposed vide order dated 24.08.2023 in the main Company Petition ceases to operate from today. b. The resolution professional shall forward all records relating to the conduct of the CIRP and the Resolution Plan to the Board to be recorded/uploaded on its database. iv. Further, the Resolution Professional is directed to handover the management, control and all the assets, documents/records in physical and/or digital form to the Successful Resolution Applicant immediately and will stand discharged of her responsibilities in this case. v. It is clarified that this order shall not be construed as an order granting exemption from payment of stamp duty, taxes or charges, if any, payment due or required in accordance with law or in respect to any permission/compliance with or anything specifically required under any law to be done/performed etc. for the time being in force. vi. In case of non-compliance/non-implementation/failure in implementation of this order or withdrawal of the Resolution Plan by the Successful Resolution Applicant, the RP shall forfeit the EMD/Performance Guarantee or any further amount paid as per the terms of the resolution plan without any recourse to this Authority.

The Successful Resolution Applicant shall further be liable to compensate, by way of interest or otherwise, for any delay, deprivation, or diminution in the value and prospects of the Corporate Debtor, including any delay in refunding amounts to homebuyers in terms of the Resolution Plan within the stipulated period, and in such event shall be liable to pay interest at the rate of 8% per annum from the expiry of the approved timeline. vii. Although during pendency of Plan Application we have sought clarifications and updating to confirm and verify that the Plan fall within prescribed legal parameters and details furnished do not tantamount to addition/modification in the Plan yet by way of abundant caution, it is apt to observe that entire discussions/updations and I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022 clarifications are submitted and undertaken by/before the relevant stakeholder (including the Homebuyers representing more than requisite majority) before this Adjudicating Authority and have actually been understood, concurred and appreciated by them to be in consonance with the spine of Plan and that such clarifications do not entail any modification or alteration of the approved Resolution Plan. viii.

The approved Resolution Plan is effective forthwith and the Supervising/Monitoring Committee shall submit a quarterly report on implementation of Resolution Plan until conclusion of all obligations thereunder.

-Sd- -Sd- RADHAKRISHNA SREEPADA SUNIL KUMAR AGGARWAL MEMBER (TECHNICAL) MEMBER (JUDICIAL)

I.A. (Plan) No. 3/2024 in CP (IB) 113/BB/2022