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Tribunals and CommissionsDivision Bench(2022) 05 NCLT CK 0770

S J Services Private Limited vs R. G. Buildestate Private Limited

National Company Law Tribunal, Jaipur Bench (Rajasthan) · Decided on 31 May 2022

HON’BLE JUDGES
Deep Chandra Joshi, Judicial Member · Raghu Nayyar, Technical Member
CASE NUMBER
IA No. 124/JPR/2022 In CP No. (IB)- 262/7/JPR/2019

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Judgment

8 paragraphs · 313 words

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.

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