In the matter of UCO Bank vs. Gaurav Poddar,
- CitationIA(IB) No.2351/KB/2024 in C.P.(IB) No. 159/KB/2021
Ratio decidendi
The rule this decision rests on
The Tribunal takes on record the Resolution Professional's report and repayment plan filed under Sections 105, 106 and 107(3)(b) of the Insolvency and Bankruptcy Code, 2016, and disposes of the application on that basis, directing the Resolution Professional to proceed with the process in accordance with law.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
An applicationfor Repayment Plan & Report under Section 105,Under Rule17andUnder Section 106,107(3)(b) of theInsolvency andBankruptcy Code, 2016for Mr.Gaurav Poddar under Rule 11of NCLTRules, 2016.
In thematter of: UCO Bank ... FINANCIAL CREDITOR
And Mr. Gaurav Poddar ... /PERSONAL GUARANTOR
And In the matter of: Ms. Rachna Jhunjhunwala ... RESOLUTION PROFESSIONAL
Date of pronouncement of order: 18.12.2024
CORAM: SMT. BIDISHA BANERJEE, HON’BLE Member (JUDICIAL) SHRI Balraj Joshi, HON’BLE MEMBER (TECHNICAL)
Appearances (via Video Conferencing/Physical): For theResolution Professional Ms.Shreya Choudhary, Adv. Mrs. Rachna Jhunhunwala, RP
IA(IB)No.2351/KB/2024 In C.P.(IB) No. 159/KB/2021
O R D E R
Per: Bidisha Banerjee, Member (Judicial) TheCourt Convened inahybrid mode. 1. Ld.Counsel along with RPpresent in person. 2. This Interlocutory Application No. 2351 of 2024 has been filed by Mr. Rachna Jhunhunwala hereinafter referred to as Resolution Professional for repayment plan 3. and report under Section 105, under Rule 17 and Under Section 106, 107(3)(b) of theInsolvency and Bankruptcy Code against Mr.Gunjan Poddar hereinafter referred to as the Personal Guarantor under Rule 11 of NCLT Rules, 2016 seeking for followingreliefs: a) “To take this report for consideration Repayment Plan & Report Under Section 105,under Rule17andUnder Section 106,107(3)(b) of theIBC 2016. b) Such further order and/or order be made and/or direction be given as this Learned Tribunal may deem fit and proper in the facts and circumstances of this case.” Ms. Rachna Jhunjhunwala, having IBBI Registration No-IBBI/IPA- 001/IP-P00389/2017-2018/10707 was appointed to act as Resolution 4. Professional under Section 97(5) of the Code vide order dated 25.06.2024.
Theapplicant submitted itsreport before theNCLT on02.02.2022. 5. The applicant sent email and postal correspondence to the Personal Guarantor for information and an email to the UCO Bank requesting them to provide the required 6. information. The Resolution Professional in accordance with Repayment Plan & Report under Section 105, under Rule 17 and Under Section 106, 107(3)(b) of the IBC, 2016 had 7. prepared its report and subsequently shared it with both the debtor and the creditor. Therepayment plan & thereport is hereunder:
INTHENATIONALCOMPANYLAWTRIBUNAL IA(IB)No.2351/KB/2024 KOLKATABENCH(Court-I) In KOLKATA C.P.(IB) No. 159/KB/2021
8.
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INTHENATIONALCOMPANYLAWTRIBUNAL IA(IB)No.2351/KB/2024 KOLKATABENCH(Court-I) In KOLKATA C.P.(IB) No. 159/KB/2021
The Report and the Repayment Plan is taken on record. The Resolution Professional willconduct theprocess inaccordance with Law. 9. In terms of the above, I.A.(IB)No.2351/KB/2024 and C.P. (IB)/159(KB) 2021 is,allowed and disposed of. 10. The Registry is directed to send e-mail copies of the order forthwith to all the parties and their Ld.Counsel forinformation and for taking necessary steps. 11. Certified Copy of this order may be issued, if applied for, upon compliance of allrequisite formalities. 12.
BalrajJoshi BidishaBanerjee Member(Technical) Member(Judicial)
Singed on this, the 18th day of December, 2024.
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