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NATIONAL COMPANY LAW TRIBUNAL COURT ROOM NO. 1 MUMBAI BENCH Item No. 15 IA(I.B.C)/3367( MB)2026 IA(I.B.C)/3408( MB)2026 IA(I.B.C)/3402( MB)2026 IN C.P. (IB)/660(MB)2025 CORAM: SH. PRABHAT KUMAR SH. SUSHIL MAHADEORAO KOCHEY HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL) ORDER SHEET OF THE HEARING ON 06.08.2026 NAME OF THE PARTIES: BANK OF INDIA VS SUPREME ENGINEERING LIMITED Section 7, 19(2), 60(5) & 12(A) of the Insolvency and Bankruptcy Code, 2016 and Regulation 30, Regulation 30A ORDER Adv. Amir Arsiwala a/w Adv. Aditi Biswas for Financial Creditor (Bank of India) and Adv. Siddhesh S. Sawant for Resolution Professional / Applicant. IA (I.B.C)/3367(MB)2026 & IA (I.B.C)/3402(MB)2026 1. IA (I.B.C)/3402(MB)2026 has been filed on 03.08.2026 by Mr. S. Gopalakrishnan, Interim Resolution Professional of Supreme Engineering Limited under Section 12a of the Insolvency and Bankruptcy Code 2016 r/w Rule 30A of Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016 seeking the following reliefs : a. Allow the present Application made under section 12A of the Code for withdrawal of the C. P. (IB)-660 (MB)/2025. b. Close the Corporate Insolvency Resolution Process in the matter of M/s. Supreme Engineering Ltd, the Corporate Debtor. c. To pass such further and/ or other order(s) and / or direction(s) as the facts and circumstances of the matter may warrant. 2. The Applicant states that an Application (hereinafter referred to as the “Petition”) was filed by the Bank of India (hereinafter referred to as the “Petitioner / Financial Creditor”), under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the "Code"), seeking initiation of the Corporate Insolvency Resolution Process (hereinafter referred to as the “CIRP”) against Supreme Engineering Limited (hereinafter referred to as the “Respondent”) 3. The Applicant states that this Tribunal, vide Order dated 23.06.2026, initiated the Corporate Insolvency Resolution Process against the Respondent and appointed Mr. S. Gopalakrishnan as the Interim Resolution Professional in the matter of Supreme Engineering Limited (hereinafter referred to as the “Corporate Debtor”). 4. The Applicant states that, in compliance with section 13 and 15 and other applicable sections of the Code r/w Regulation 6 of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations 2016 (hereinafter called “Regulations”), a public announcement intimating the commencement of Corporate Insolvency Resolution Process against M/s Supreme Engineering Limited and calling the creditors to submit the claims with proof was published in the Financial Express (English) and Navakal (Marathi), Mumbai editions covering entire Maharashtra on 25th June, 2026. The last date for submission of claims was 7th July, 2026. 5. The Applicant states that IRP received claims from two Financial Creditors, namely Bank of India and Thane Bharat Sahakari Bank Ltd. in Form C, by 7th July,2026 and Committee of Creditors (COC) was constituted including both the Financial Creditors with voting shares of 95.93% and 4.07% respectively. 6. The Application IA 3402 of 2026 is in consonance with section 12A of IBC and applicable regulations. The CoC with requisite majority has approved the withdrawal of CIRP process. The CIRP costs are agreed to be settled. In view of this, we consider it appropriate to allow withdrawal of CIRP in terms of Section 12A of IBC, consequently the corporate debtor is taken out of rigors of CIRP process. We further direct the applicant Interim Resolution Process to hand over the control and possession of Corporate Debtor, including its records, to the erstwhile management. Upon handing over, he shall stand discharged. Needless to say, the fees of applicant as well as out of pocket expenses shall be paid in terms of the settlement approved by CoC. 7. Since, the corporate debtor is taken out of rigors of the CIRP process and the said process stands terminated, IA 3367 of 2026 seeking co-operation from the Respondent No. 1 to 8 therein in CIRP process is rendered infructuous. 8. In terms of above, the IA (I.B.C)/3402(MB)2026 is allowed and disposed. Consequently, IA (I.B.C)/3367(MB)2026 also stands disposed IA (I.B.C)/3408(MB)2026 1. This Application is filed by Mr. S. Gopalakrishnan, Resolution Professional of Supreme Engineering Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 to place on record the Progress Report for the period 23rd June 2026 to 25th July 2026. The same is taken on record. 2. In terms of above, the IA (I.B.C)/3408(MB)2026 is allowed and disposed Sd/- Sd/- PRABHAT KUMAR SUSHIL MAHADEORAO KOCHEY MEMBER (TECHNICAL) MEMBER (JUDICIAL) Shubham Bide