In the matter of RG Buildestate Private Limited

National Company Law Tribunal31 May 2022

CitationIA No. 124/JPR/2022 in CP No. (IB)-262/7/JPR/2019

Ratio decidendi

The rule this decision rests on

The Tribunal may correct a clerical or arithmetical error in a resolution plan and in its own order approving that plan, under Rule 11 read with Rule 154 of the National Company Law Tribunal Rules, 2016, where the error is inadvertent and the correction is confined to the typographical or arithmetical figure so that it reflects the resolution applicant's actual proposal.

Written by Miss Lucy from the judgment below, not taken from a headnote.

Judgment

As delivered

IN THE NATIONAL COMPANY LAW TRIBUNALJAIPUR BENCH, JAIPURCoram: SHRI DEEP CHANDRA JOSHI,HON’BLE JUDICIAL MEMBERSHRI RAGHU NAYYAR,HON’BLE TECHNICAL MEMBERIA No. 124/JPR/2022In CP No. (IB)- 262/7/JPR/2019IN THE MATTER OF SECTION 7 OF IBC, 2016IN THE MATTER OF:S J SERVICES PRIVATE LIMITED… Financial CreditorVERSUSR. G. BUILDESTATE PRIVATE LIMITED…Corporate DebtorIA No. 124/JPR/2022M/s One City Infrastructure Private LimitedThrough its Director Mr. Sunil Kumar Jain,Office at: 8-D, Hansalaya-15, Barakhamba Road,New- Delhi- 110001.…Applicant/ Resolution ApplicantFor the Applicant : Shobhit Tiwari, Adv.Annu, Adv.For the Respondents : None-appearedOrder Pronounced On: 31.05.2022IA No. 124/JPR/2022In CP No. (IB)- 262/7/JPR/2019

ORDER Per: Shri Raghu Nayyar, Technical Member 1. The present application has been filed by the Resolution Applicant under Rule 11 read with Rule 154 of the National Company Law Tribunal Rules, 2016 for correction of typographical/arithmetical error in Resolution Plan dated 22.07.2020 submitted by the Resolution Applicant and consequential correction in order dated 07.10.2021 passed by this Authority in IA No. 241/JPR/2020 in CP No. (IB) 262/7/JPR/2019, whereby the Resolution Plan submitted by the Resolution Applicant was approved. 2. The Financial Creditor namely SJ Services Private Limited, had preferred an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘The Code’/‘IBC’) for initiation of Corporate Insolvency Resolution Process (‘CIRP’) against the Corporate Debtor namely R. G. Buildestate Private Limited which came to be admitted vide order dated 30.01.2020 whereby Mr. Chander Shekhar was appointed as the Interim Resolution Professional (‘IRP’). Thereafter the IRP convened meetings of the Committee of Creditors (‘CoC’) and in the 6th meeting dated 06.08.2020, the Resolution Plan proposed by the Resolution Applicant was endorsed. This Authority vide order dated 07.10.2021 approved the Resolution Plan.

IA No. 124/JPR/2022 In CP No. (IB)- 262/7/JPR/2019

3. The present Interim Application has been filed by the Resolution Applicant seeking the following prayers: a. Pass appropriate order or direction, whereby the typographical error in Clause No. 18.9 (v.) of Resolution Plan dated 22.07.2020 be corrected/clarified to the extent that Resolution Applicant proposed to increase the Equity Share Capital by INR 1,00,000/- instead of INR 10,00,000/- b. Pass appropriate order or direction, whereby the typographical error at Para No. 22(b) of Order dated 07.10.2021 be corrected/clarified to the extent that Resolution Applicant proposes to increase the Equity Share Capital by INR 1,00,000/- instead of INR 10,00,000/- 4. Therefore, in view of the inadvertent error, the aforesaid application bearing IA No. 124/JPR/2022 is allowed and the aforesaid corrections shall be deemed to have been carried out and incorporated in te Order dated 07.10.2021. DEEP Digitally signed by DEEP CHANDRA CHANDRA JOSHI Date: 2022.05.31 JOSHI 18:28:58 +05'30' (Deep Chandra Joshi) Judicial Member

Digitally signed RAGHU by RAGHU NAYYAR NAYYAR Date: 2022.05.31 18:56:20 +05'30 ' (Raghu Nayyar) Technical Member

IA No. 124/JPR/2022 In CP No. (IB)- 262/7/JPR/2019

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