Allowed

In the matter of Mantena Laboratories Limited [I.a. No. 1731 of 2023 in Cp (I) No. 682-07-HDB-2018]

NCLT13 Dec 2023I.A. No. 1731 of 2023 in CP (I) No. 682-07-HDB-2018

Case brief

AI extract

What is this about?

NCLT Hyderabad Bench II allowed an interim application to place the Request for Resolution Plan and the Applicant s Resolution Plan on record for consideration during the adjudication of IA No. 1468/2023 in the corporate insolvency resolution process. The court directed that these documents be taken on record as the Respondents did not oppose.

What did the court decide?

Documents including Request for Resolution Plan and Applicant s Resolution Plan taken on record for adjudication of IA No. 1468/2023.

In the matter of Mantena Laboratories Limited [I.a. No… — Insolvency and Bankruptcy | NCLT (2023)

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IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH - II

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I.A.No.1731 of 2023 in

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CP (IB) No.682/07/HDB/2018

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In the matter of

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M/S. MANTENA LABORATORIES LIMITED

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Between :

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Mr. Prasada Raju M.R.V Suspended Board of Directors of M/s. Mantena Laboratories Limited R/o 409, Rolling Residency, Street No.2, Czech Colony, Sanath Nagar, Hyderabad - 500 018.

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....Applicant

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Mr. Vamsi Kambhammetu , Resolution Professional of M/s. Mantena Laboratories Limited, R/o A85, DX4, Level 2,

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Sri Varasiddhi Nivas, Road No.11, Film Nagar, Jubilee Hills, Hyderabad – 500 033.

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The Committee of Creditors represented by Resolution Professional of M/s. Mantena Laboratories Limited, Flat No.26, Raghava Ratna Towers, Chirag Ali Lane, Abids, Hyderabad.

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.... Respondents

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Date of order: 13.12.2023

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CORAM :

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Hon’ble Sri Rajeev Bhardwaj, Member (Judicial)

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Hon’ble Sri Sanjay Puri, Member (Technical)

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IA No.1731 of 2023 in CP (IB) No.682/07/HDB/2018 Order dated : 13.12.2023

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Counsels present :

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For the Applicant : Ms. A. Sandhya Rani, Advocate For the Respondents : Mr. VSR Avadhani, Advocate Heard on : 10.11.2023

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[PER: SANJAY PURI]

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ORDER

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This Application has been filed by Mr Prasada Raju M.R.V S/o Rama Chandra Raju, who was one of the Directors of the Suspended Board of the Corporate Debtor (“ CD ”) M/s Mantena Laboratories Limited. Through this Application, the Applicant has sought to place on record the following documents in relation to an IA No. 1468/2023.

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The Request for Resolution Plan (“ RFRP ”) issued by the Resolution Professional (“ RP ”) &

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The Resolution Plan submitted by the Applicant to RP and Committee of Creditors (“ CoC ”),

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Besides seeking direction to the RP for submitting the Resolution plan in compliance with the terms of RFRP.

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The CD was admitted into Corporate Insolvency Resolution Process (CIRP) by the AA on 06.08.2021. Subsequently, Respondent No.1, the Resolution Professional (“ RP ”), was appointed to initiate the CIRP.

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On 24.12.2021, RP published RFRP¹ , a copy of which has been attached with the present Application. In due course, the Applicant

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1 Annexure – I of the Application

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Page 2 of 3

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IA No.1731 of 2023 in CP (IB) No.682/07/HDB/2018 Order dated : 13.12.2023

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had submitted Resolution Plan² on 27.01.2022, a copy of the same is also attached with the Application. It is pleaded that the above documents may be taken on record for proper adjudication of IA No. 1468/2023, and in the interest of justice.

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Respondents have not opposed the aforesaid documents being taken on record.

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The documents mentioned in the application, i.e. RFPR issued by RP on 24.12.2021 and the Resolution Plan dated 27.01.2022 submitted by the Applicant, are therefore taken on record, and will be considered while adjudicating IA No. 1468/2023

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As a result, the Application is allowed.

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Sd/- Sd/-

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(SANJAY PURI) (RAJEEV BHARDWAJ) MEMBER (TECHNICAL) MEMBER (JUDICIAL)

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2 Annexure – II of the Application

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Page 3 of 3

In the matter of Mantena Laboratories Limited [I.a. No. 1731 of 2023 in Cp (I) No. 682-07-HDB-2018]

Case brief

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In the matter of Mantena Laboratories Limited [I.a. No. 1731 of 2023 in Cp (I) No. 682-07-HDB-2018]

Case brief

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