NOTICE OF 13th MEETING OF COC | AIRL | 27.04.

2024

NOTICE OF THE THIRTEENTH MEETING OF THE

COMMITTEE OF CREDITORS OF
ALCHEMIST INFRA REALTY LIMITED
(UNDERGOING CORPORATE INSOLVENCY RESOLUTION PROCESS)

DAY, DATE & TIME: SATURDAY, 27th APRIL, 2024 AT 11:00 AM

VENUE: OFFICE: F-5, RAJIV GANDHI IT PARK, CHANDIGARH -160101

THROUGH VIDEO CONFERENCING

Sd/-
Gaurav Misra
Resolution Professional
In the matter of Alchemist Infra Realty Limited
Regn No: IBBI/IPA-001/IP-P-02123/2021-22/13709
Add: F-5, Rajiv Gandhi IT Park, Chandigarh ,160101
Email Id: [email protected]
AFA No. AA1/13709/02/060824/105938
AFA Valid upto: 06.08.2024

Page | 1
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

NOTICE FOR THE THIRTEENTH MEETING OF COMMITTEE OF

CREDITORS

NOTICE is hereby given that in accordance with the provisions of Regulations 18,

19, 20 & 21 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution

Process for Corporate Persons) Regulations, 2016, the Thirteenth Meeting of the

Committee of Creditors of Alchemist Infra Realty Limited (AIRL) (Undergoing

Corporate Insolvency Resolution Process) will be held on Saturday, 27th April,

2024 at 11:00 A.M. at F-5, Rajiv Gandhi IT Park, Chandigarh – 160101 to transact

the business as specified in the enclosed Agenda.

In accordance with the provisions of Regulation 21 and 23 of the Insolvency and

Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons)

Regulations, 2016, the members / participants of Committee of Creditors (“CoC”)

may attend/ participate and vote in the meeting either in person or through an

authorized representative provided that such participant shall inform the

undersigned, in advance, of the identity of the authorized representative, who will

attend and vote on behalf of the participant in the meeting. Also, the participants shall

be able to participate through video conferencing or other audio / visual means. In

this regard, the participant is requested to intimate the undersigned at least 24

(Twenty-Four) hours in advance, i.e. by 26th April, 2024 till 11:00 A.M.

Page | 2
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

In terms of the Section 21(2) of the Insolvency and Bankruptcy Code, 2016, a

related party to whom a corporate debtor owes a financial debt shall not have any

right of representation, participation and voting in the meeting of Committee of

Creditors. However, the said provision shall not apply to a financial creditor,

regulated by a financial sector regulator, if it is a related party of the corporate

debtor solely on account of conversion or substitution of debt into equity shares or

instruments convertible into equityshares, prior to the Insolvency Commencement

Date (i.e. 23rd March, 2022 in this case).

Sd/-
Gaurav Misra Resolution Professional
In the matter of Alchemist Infra Realty Limited
Regn No: IBBI/IPA-001/IP-P-02123/2021-22/13709
Add: F-5, Rajiv Gandhi IT Park, Chandigarh ,160101
Email Id: [email protected]
AFA No. AA1/13709/02/060824/105938
AFA Valid upto: 06.08.2024

Date: 23.04.2024
Place: Chandigarh

Enclosed: (1) List of persons to whom the notice of the CoC meeting is being sent;

(2) Agenda, Notes to Agenda, Explanatory Statements and

the Resolutions proposed to be passed.

Page | 3
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

NOTICE ALONG WITH AGENDA BEING SENT TO:

A. Financial Creditors – Members of Committee of Creditors.

S. No. Name of Address Mail ID

Financial
Creditor
Building No.23, 4th
1. Technology Floor(Eastern side), [email protected]
Parks Nehru Place, New
Limited Delhi-110019

B. Authorized Representative of Financial Creditors in A Class

The above class is represented by the following Authorized Representative.

S. No. Name of Address Email ID
Participants
Ms. Rakesh Verma, H. No. 1099, [email protected]
Insolvency Vikas Kunj,
1.
Professional Vikas Puri, West
Delhi 110018,
(Authorized West, National
Representative for the Capital Territory
Financial Creditor in a of Delhi – 110018
Class)

C. Members of Board of Directors of Corporate Debtor (powers suspended)

S. No. Name of Directors Address

1511 Hemkunt Chambers, 89 Nehru Place,
New Delhi- 110019
1. Mr. Brij Mohan Mahajan
[email protected]
Chaukhanda Chitauli, Anchal- Sasaram,
Mr. Nandkishor Singh Rohtas, Bihar- 821113
2.
[email protected]
Nava Vadvas A, P.O. Gadha Tal, Modasa,
Mr. Chhatrasal Singh Ambarkantha, Gujarat-160044
3.
Narendra Singh Ranawat [email protected]

D. Operational Creditors: NIL

Page | 4
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

AGENDA FOR THE MEETING:

Agenda for the Thirteenth Meeting of the Committee of Creditors (“CoC”) of

Alchemist Infra Realty Limited (“AIRL/ Corporate Debtor”) to be held on Saturday,

27th April, 2024 at11:00 AM at F-5, Rajiv Gandhi IT Park, Chandigarh -160101 is
as follows:

Item PARTICULARS
No.
A. LIST OF MATTERS TO BE DISCUSSED/NOTED

1. The Resolution Professional (“RP”) to take the chair;

2. To ascertain the quorum of the meeting in accordance with the provisions

of Regulations 22 of the Insolvency and Bankruptcy Board of India
(InsolvencyResolution Process for Corporate Persons) Regulations, 2016;

3. To approve the Minutes and Summary Record of Twelfth Meeting of CoC

held on 12.10.2023.
4. To take note of the action taken by the Resolution Professional since the
conclusion of Twelfth Meeting of CoC.

5. To take note on the status of Interlocutory Applications pending before

Hon’ble National Company Law Tribunal, New Delhi for adjudication.

B. LIST OF ISSUES TO BE VOTED UPON AFTER DISCUSSION

1. To ratify the cost, incurred by the Interim Resolution Professional / Resolution
Professional, in accordance with the provisions of IBC, 2016 during
Insolvency Resolution Process of the Corporate Debtor since the ICD to
31.03.2024.

Page | 5
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

2. To discuss and approve the extension the Interval period between CoC
meetings on quarterly basis, as per the amended Regulation 18 (1) of IBBI
(CIRP Regulations, 2016).

C. ANY OTHER MATTER WITH THE PERMISSION OF THE CHAIR

Sd/-
Gaurav Misra
Resolution Professional
In the matter of Alchemist Infra Realty Limited
Regn No: IBBI/IPA-001/IP-P-02123/2021-22/13709
Add: F-5, Rajiv Gandhi IT Park, Chandigarh ,160101
Email Id: [email protected]
AFA No. AA1/13709/02/060824/105938
AFA Valid upto: 06.08.2024

Date: 23.04.2024
Place: Chandigarh

P. S.: Notes to the Agenda appended hereto is an integral part of the Notice.

Page | 6
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

NOTES TO AGENDA AND GENERAL GUIDELINES

1. In terms of Regulation 16A(9) of the Insolvency and Bankruptcy Board of

India (Insolvency Resolution Process for Corporate Persons) Regulations,
2016, the authorised representative shall circulate the agenda to creditors in a
class, and may seek their preliminary views on any item in the agenda to
enable him to effectively participate in the meeting of the committee and that
the creditors shall have a time window of at least twelve hours to submit their
preliminary views, and the said window opens at least twenty-four hours after
the authorised representative seeks preliminary views and such preliminary
views shall not be considered as voting instructions by the creditors.

2. In terms of Section 25A(2) of the Insolvency and Bankruptcy Code, 2016, it

shall be the duty of the authorized representative to circulate the agenda and
minutes of the meeting of the committee of creditors to the financial creditors
he represents;

3. As per Regulation 13(2) of the Insolvency and Bankruptcy Board of India

(Insolvency Resolution Process for Corporate Persons) Regulations 2016, the
list of creditors will be available for inspection at the venue of the Meeting;

4. In terms of Regulation 21(1) and 23(1) of the Insolvency and Bankruptcy

Board of India (Insolvency Resolution Process for Corporate Persons)
Regulations, 2016, a participant can attend the Meeting through video
conferencing or other audio and visual means. Thus, participants intending to
attend the meeting though such means, he/she shall write to the signatory of
the notice at least Twenty Four hoursbefore the time fixed for the Meeting at
the email id mentioned herein along with their location. It is to be noted that
the participants attending the Meeting through such means would also be
considered as part of quorum;

Page | 7
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

5. As per Regulation 21(2) of the Insolvency and Bankruptcy Board of India

(Insolvency Resolution Process for Corporate Persons) Regulations, 2016, a
participant may attend the Meeting by himself or through an authorized
representative. A participant attending through an authorized representative
shallinform the signatory of the notice, at least Twenty Four hours in advance,
the identity of the authorized representative who will attend and vote at the
Meeting on its behalf. Also, the authorized representative is requested to carry
an Identity Proof for his/ her identification;

6. As per Section 21 of the Insolvency and Bankruptcy Code, 2016, a financial

creditor or authorized representative of such financial creditor, if it is a related
party of the corporate debtor, shall not have any right of representation,
participation or voting in the Meeting, subject to exceptions mentioned
thereunder;

7. As per Section 21(8) of the Insolvency and Bankruptcy Code, 2016, all
decisions of the CoC (except those u/s 12, 22, 27, 28, 30 and 33) shall be taken
by a vote ofnot less than Fifty – One percent of the Financial Creditors.
Whereas, all decision of the CoC (those under the exception) shall be taken
by a vote of not less than Sixty – Six percent;

8. As per Section 25(3A) of the Insolvency and Bankruptcy Code, 2016, the
authorized representative shall cast his vote on behalf of all the financial
creditors he represents in accordance with the decision taken by a vote of more
than fifty per cent of the voting share of the financial creditors he represents,
who have cast their vote;

9. As per Section 24(4) of the Insolvency and Bankruptcy Code, 2016, the
directors of the Corporate Debtor attending the Meeting shall not have any
right to vote at the Meeting and absence of any such director shall not
invalidate the proceedings of the meeting;

Page | 8
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

10. As per Regulation 25(6) of the Insolvency and Bankruptcy Board of India

(Insolvency Resolution Process for Corporate Persons) Regulations 2016, the

authorised representative shall circulate the minutes of the meeting to creditors
in a class and announce the voting window at least twenty-four hours before
the window opens for voting instructions and keep the voting window open
for at least twelve hours;

11. As per Regulation 26(1A) of the Insolvency and Bankruptcy Board of India

(Insolvency Resolution Process for Corporate Persons) Regulations 2016, the

authorized representative shall exercise the votes either by electronic means or
through electronic voting system as per the voting instructions received by him
from the creditors in the class;

12. As per provisions of Regulation 25(4) of the Insolvency and Bankruptcy Board

of India (Insolvency Resolution Process for Corporate Persons) Regulations,

2016, at the conclusion of voting at the meeting, the decision taken on each of
the items along with the names of the Members of the CoC who voted for or
against the decision, or abstained from voting will be announced.

Page | 9
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

INSTRUCTIONS FOR E-VOTING ARE AS UNDER:

• The Resolution Professional has made necessary arrangements with Technovus

Solutions to facilitate the e-voting. In connection thereto, the schedule of timing

for e- voting shall be fixed in accordance with the provisions contained in the
Insolvency and Bankruptcy Code, 2016 and Regulations thereto.

• The voting period shall begin after the minutes of the meeting have been

circulated by electronic means to all the members of committee and remains open
for at-least 24 hours thereafter (“Voting Period”). During this period, the
members of the CoC are being provided with a platform to cast their vote
electronically.

• As specified in Regulation 26 (3) of the Insolvency and Bankruptcy Board of

India (Insolvency Resolution Process for Corporate Persons) Regulations 2016,

at the end of the voting period, the e-voting portal shall forthwith be blocked by
the service provider.

• As specified in Regulation 26 (4) of the Insolvency and Bankruptcy Board of

India (Insolvency Resolution Process for Corporate Persons) Regulations 2016,

at the conclusion of a vote held under this Regulations, the Resolution
Professional shall announce and make a written record of the summary of the
decision taken on a relevant agenda item along with the names of the members
of the committee who voted for or against the decision, or abstained from voting.

• As specified in Regulation 26 (5) of the Insolvency and Bankruptcy Board of

India (Insolvency Resolution Process for Corporate Persons) Regulations 2016,

the Resolution Professional shall circulate a copy of the record made under sub-
regulation (4) to all participants by electronic means within 24 hours of the
conclusion of the voting.

Page | 10
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

• Subject to activation of E-voting portal on request of CoC:

• Circulation of Minutes of the meeting by the RP: within 48 hours of

conclusion of the meeting.

• Voting to start for the Financial Creditors in a Class: 24 hours after

circulation of Minutes by the AR to the members of Financial Creditor in a

class.
• Voting to close for the Financial Creditors in a Class: Three (3) days

after commencement of voting (minimum prescribed time is 12 hours).

• Voting to start for other Financial Creditors (including AR): After 2

hours of closure of voting for the members of financial creditors in a class.

• Voting to close for other Financial Creditors (including AR): 24 hours

after commencement of the voting.

E-Voting Procedure for Financial Creditors in a Class:

i. Dropping a text message by Financial Creditors in a class with their Unique

Customer Id to a dedicated number provided by service provider;

ii. Receiving a web link by the Financial Creditors in a class along with a unique
code through message;

iii. Access of link / opening of webpage where the totally secured electronic
voting ballot with resolutions for voting will appear;

iv. Casting of votes by the Financial Creditors in a class through a secured portal

v. After casting of votes, entering the unique code received via SMS;

vi. As a measure of security check and validation, they will have to enter their
Bank Account Number which they have mentioned in Form CA in order to
finally submit their voting;

Page | 11
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

vii. After the submission, voting window will be closed, Financial Creditors in
a class will be notified for successfully casting of votes;

viii. After the closure of voting window, a report will get generated where
all the particulars of the Financial Creditors in a class who have voted will
appear;

Page | 12
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

A. LIST OF MATTERS TO BE DISCUSSED/NOTED

ITEM NO. A1

THE RESOLUTION PROFESSIONAL (“RP”) TO TAKE THE CHAIR

As per Regulation 24(1) of the Insolvency and Bankruptcy Board of India

(Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the

Resolution Professional shall act as the Chairman of the meeting of the CoC.

Accordingly, the Resolution Professional to take the chair of Thirteenth CoC

meeting of Corporate Debtor.

ITEM NO. A2

TO ASCERTAIN THE QUORUM OF THE MEETING IN ACCORDANCE

WITH THE PROVISIONS OF REGULATIONS 22 OF THE INSOLVENCY
AND BANKRUPTCY BOARD OF INDIA (INSOLVENCY RESOLUTION
PROCESS FOR CORPORATE PERSONS) REGULATIONS, 2016

As per Regulation 22(1) of the Insolvency and Bankruptcy Board of India

(Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the

quorum for the meeting of members of the committee shall be at least 33% of the

voting rights, present either in person, or by video conferencing or other audio/visual

means. Nevertheless, the committee may modify the percentage of voting rights

required for quorum in respect of any future meetings of the committee.

Page | 13
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

ITEM NO. A3

TO APPROVE THE MINUTES AND SUMMARY RECORD OF TWELFTH

MEETING OF COC HELD ON 12.10.2023.

The Minutes of Twelfth meeting of the CoC of Alchemist Infra Realty Limited held
on 12.10.2023, were circulated to all the members of CoC/participants on
14.10.2023 in accordance with Regulation 24(7) of the Insolvency and Bankruptcy
Board of India (Insolvency Resolution Process for Corporate Persons) Regulations,
2016. The summary record of E-Voting regarding the Twelfth CoC Meeting was
circulated on 19.10.2023 in compliance with Regulation 26 of the Insolvency &
Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons)
Regulations, 2016.

The members of the Committee are requested to take note of the Minutes and Summary
Record of the Twelfth CoC meeting.

ITEM NO. A4
TO TAKE NOTE OF THE ACTION TAKEN BY THE RESOLUTION
PROFESSIONAL SINCE THE CONCLUSION OF TWELFTH MEETING OF
COC.

That the same would be presented before the members of CoC during the meeting.

ITEM NO. A5
TO TAKE NOTE ON THE STATUS OF INTERLOCUTORY APPLICATIONS
PENDING BEFORE HON’BLE NATIONAL COMPANY LAW TRIBUNAL,
NEW DELHI FOR ADJUDICATION.

The Resolution Professional shall apprise about the same before the CoC during the
meeting.

Page | 14
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

B. ISSUES TO BE VOTED UPON AFTER DISCUSSION.

Resolutions to be passed, with or without modifications, at the meeting:

ITEM NO. B1

TO RATIFY THE COST, INCURRED BY THE INTERIM RESOLUTION

PROFESSIONAL / RESOLUTION PROFESSIONAL, IN ACCORDANCE
WITH THE PROVISIONS OF IBC, 2016 DURING INSOLVENCY
RESOLUTION PROCESS OF THE CORPORATE DEBTOR SINCE THE ICD
TO 31.03.2024.

Facts and Explanatory Statement:

The Resolution Professional shall apprise the members of CoC that he has reconciled
the total expenses incurred during the Corporate Insolvency Resolution Process of the
Corporate Debtor since Insolvency Commencement Date to till 31.03.2024. The said
CIRP Cost will be presented before the CoC at the meeting.

Accordingly, the Resolution Professional is putting the following resolution for

consideration:

Resolution:
To consider and if thought fit, to pass with or without modification, the following
Resolution:

“RESOLVED THAT the CIRP Cost incurred by IRP/RP since Insolvency Commencement
Date to till 31.03.2024, total expenses incurred amount to Rs. ________is be and hereby
approved and same shall form part of the Insolvency resolution process cost.

Page | 15
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

ITEM NO. B2

TO DISCUSS AND APPROVE THE INTERVAL PERIOD BETWEEN COC

MEETINGS ON QUARTERLY BASIS, AS PER THE AMENDED
REGULATION 18 (1) OF INSOLVENCY AND BANKRUPTCY BOARD OF
INDIA (INSOLVENCY RESOLUTION PROCESS FOR CORPORATE
PERSONS) REGULATIONS, 2016.

Facts and Explanatory Statement:

That the RP shall apprise the members of CoC that as per the amended Regulation 18(1)
of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for
Corporate Persons) Regulations, 2016. Regulation 18(1) of IBBI Regulations, 2016 is
reproduced hereunder:

“A resolution professional shall convene a meeting of the committee before

lapse of thirty days from the last meeting: Provided that the committee may
decide to extend the interval between such meetings subject to the condition
that there shall be at least one meeting in each quarter.”

In the matter, the Resolution Plan of Corporate Debtor was approved by the members of
CoC on 12.10.2023 in its Twelfth meeting of CoC. Accordingly, the Resolution
Professional has filed the application i.e. IA No. 01 of 2024 on 22.12.2023 before the
Hon’ble Adjudicating Authority which is pending for Adjudication. In view of same,
the Resolution Professional hereby recommends to conduct the CoC meetings on
quarterly basis instead of monthly basis for appropriate developments, with the liberty
to convene the meeting of CoC earlier also if and when required.

Accordingly, the following resolutions shall be placed before the CoC for their
consideration and approval.

Page | 16
 NOTICE OF 13th MEETING OF COC | AIRL | 27.04.2024

Resolution:

To consider and if thought fit, to pass with or without modification the following
Resolution:

“RESOLVED THAT pursuant to the provision of Regulation 18 (1) of IBBI (CIRP)

Regulations, 2016, the consent of members of COC be and is hereby accorded to
convene at least One CoC meeting on quarterly interval basis/period.

C. ANY OTHER MATTER WITH THE PERMISSION OF THE CHAIR

The member of committee is entitled to raise any other matter for discussion and
due deliberation with the permission of the Chairman. In case, there is no such
matter from member of the CoC, the meeting will be concluded with a vote of
thanks by Resolution Professional.

Sd/-
Gaurav Misra
Resolution Professional
In the matter of Alchemist Infra Realty Limited
Regn No: IBBI/IPA-001/IP-P-02123/2021-22/13709
Add: F-5, Rajiv Gandhi IT Park, Chandigarh ,160101
Email Id: [email protected]
AFA No. AA1/13709/02/060824/105938
AFA Valid upto: 06.08.2024

Date: 23.04.2024
Place: Chandigarh

Page | 17