Notice and notes to Agenda of 5th CoC meeting

NOTICE OF FIFTH (5TH) MEETING OF COMMITTEE OF CREDITORS (“COC”) OF

SERENE RESIDENCY GROUP HOUSING PROJECT AT SECTOR ETA II GREATER
NOIDA OF ANSAL PROPERTIES AND INFRASTRUCTURE LIMITED (UNDER
CORPORATE INSOLVENCY RESOLUTION PROCESS)

NOTICE is hereby given to all members of the Committee of Creditors of SERENE RESIDENCY
GROUP HOUSING PROJECT AT SECTOR ETA II GREATER NOIDA OF ANSAL PROPERTIES
AND INFRASTRUCTURE LIMITED (“Project Corporate Debtor”) under the provisions stipulated
in Regulations 18 and 19 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution
Process for Corporate Persons) Regulations, 2016 (“CIRP Regulation"). The 5th meeting of the
Committee of Creditors (“CoC") is scheduled to convene on the 11 th March 2024, at 10:30 A.M. via
audio/video means, for the purpose of transacting business as delineated in the enclosed agenda.

The details of the CoC meeting are as follows:

Name of the Corporate Debtor
Day and Date of the COC meeting
Time of the COC meeting
Venue of the COC meeting
Meeting Link
Serene Residency Group Housing Project at Sector ETA II,
Greater Noida of Ansal Properties and Infrastructure Limited
Monday, 11th March 2024
10.30 A.M. Onwards
Through video conferencing

As per Regulation 21(2) of the CIRP Regulations, a member of the CoC may attend and vote in the
meeting either in person or through an authorized representative. A member of the CoC attending the
meeting through an authorized representative shall inform the Resolution Professional at least twenty-
four (24) hours in advance, of the identity of the authorized representative who will attend and vote
at the meeting on its behalf.

Further, in terms of the first proviso to Section 21(2) of the Insolvency and Bankruptcy Code, 2016,
a related party to whom the Corporate Debtor owes a Financial Debt shall not have any right
to representation, participation, or voting in a meeting of the CoC.

You are requested to kindly make it convenient to attend the Meeting.

Navneet Kumar Gupta
Resolution Professional
Serene Residency Group Housing Project at Sector Eta II Greater Noida of Ansal Properties and
Infrastructure Limited
(under Corporate Insolvency Resolution Process)
IBBI Registration No.: IBBI/IPA-001/IP-P00001/2016-2017/10009
 Notice and notes to Agenda of 5th CoC meeting
AFA Valid till 18th December 2024

Date: 08th March 2024

Place: New Delhi

Enclosed:
1. Brief Agenda of the Meeting
2. Notes to Agenda
5. Instruction on e-voting (Annexure)

List of persons to whom notice is sent in terms of section 24(3) of the Insolvency and Bankruptcy
Code, 2016

I. Financial Creditors

Sl. No. Name of Financial Creditors Voting Percentage

1. Indian Bank Per the latest list of creditors

II. Members of the Suspended board of directors

Sl. No. Name Designation

1. Mr. Pranav Ansal Whole-Time Director
2. Mr. Anoop Sethi Managing Director
3. Mr. Sandeep Kohli Director

III. Authorized Representative of creditors in a class (homeowners) appointed.

Sl. No. Name of Authorized Representative Voting Percentage

1. Mr. Rajeev Dhingra (class of homebuyers) Per the latest list of creditors

IV. Operational Creditors if aggregate dues are at least 10% of the debt:

None, since no operational creditors have dues of 10% or more of the total debt of the Project Corporate
Debtor
 Notice and notes to Agenda of 5th CoC meeting

SECTION 1: BRIEF AGENDA

NOTICE OF FIFTH (5TH) MEETING OF COMMITTEE OF CREDITORS (“COC”) OF

SERENE RESIDENCY GROUP HOUSING PROJECT AT SECTOR ETA II GREATER
NOIDA OF ANSAL PROPERTIES AND INFRASTRUCTURE LIMITED (UNDER
CORPORATE INSOLVENCY RESOLUTION PROCESS)

Item Particulars
No.
A. List of Matters to be discussed/noted
A1. The Resolution Professional to Take the Chair
A2. To ascertain the quorum per the provisions of Regulation 22 of the Insolvency and Bankruptcy
Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
A3. To take note of the minutes and voting results of 4th CoC meeting held on 21st February 2024.

A4. To discuss valuation methodology pursuant to Regulation 35(1) of CIRP Regulations.

A5. To discuss regarding extension of last date of submission of resolution plan.

B. List of Issues to be voted upon after discussions
B1 To approve the extension of last date for submission of resolution plan

C. Any other matter

C1. Any other matter as per CIRP regulations/IBC Code
 Notice and notes to Agenda of 5th CoC meeting

SECTION – 2 DETAILED NOTES TO AGENDA

A. LIST OF MATTERS TO BE DISCUSSED AT THE MEETING:

Item No. A1
The Resolution Professional to Take 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
Chairperson of the meeting of the Committee. Therefore, Mr. Navneet Kumar Gupta, Resolution
Professional, is to take the Chair.

Item No. A2
To ascertain the quorum of the Meeting under the provisions of Regulation 22 of the Insolvency
and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons)
Regulations, 2016

As prescribed under Regulation 22(1) of the Insolvency and Bankruptcy Board of India (Insolvency
Resolution Process for Corporate Persons) Regulations, 2016, the requisite quorum for the meeting of
the members of the Committee of Creditors (CoC) shall constitute at least 33% (Thirty-Three percent)
of the total voting rights, whether present in person, via video conferencing, or through other audio-
visual means.

Item No. A3
To take note of the minutes and voting results of 4th CoC meeting held on 21st February 2024.

The minutes and e-voting results of the 4th CoC meeting held on 21st February 2024 were circulated to
the members on 22nd February 2024 and 26th February 2024 respectively. The CoC members are
requested to take note of the minutes and e-voting results as circulated.

Item No. A4
To discuss valuation methodology pursuant to Regulation 35(1) of CIRP Regulations.

Pursuant to proviso to regulation 35(1)(a) of CIRP Regulations which states that “Provided that the
resolution professional shall facilitate a meeting wherein registered valuers shall explain the
methodology being adopted to arrive at valuation to the members of the committee before computation
of estimates.”, the RP shall invite valuers one at a time in the meeting for discussing the methodology
being adopted by them to arrive at valuation of the project corporate debtor before computation of
estimates.

Item No. A5
To discuss regarding extension of last date of submission of resolution plan.

The Resolution Professional shall apprise the CoC members about receipt of request from one of the
Prospective Resolution Applicants (“PRAs”) for extension of last date of submission of resolution plan.
As per Form G dated 19th December 2023 read with addendum dated 06th January 2024, the last date of
submission of resolution plan is 14th March 2024.

As per Regulation 36B (6) of the CIRP Regulations which states that “The resolution professional may,
with the approval of the committee, extend the timeline for submission of resolution plans.”, the
Resolution Professional shall put before the members consideration for extension of last date for
submission of resolution plan.
 Notice and notes to Agenda of 5th CoC meeting

Accordingly, after deliberations from the members the matter shall be put to vote by the members by
way of e-voting.

B. LIST OF ISSUES TO BE VOTED UPON AFTER DISCUSSIONS

Item No. B1
To approve the extension of last date for submission of resolution plan
As discussed in Item No. A5

Proposed Resolution:
To consider and if found fit, to pass with or without modification the following Resolution.
“RESOLVED THAT in pursuance to the Regulation 36 B (6) of the CIRP Regulations, the consent of
members of committee be and is hereby accorded to extend the last date of submission of resolution
plan from 14th March 2024 by (as decided by CoC).

RESOLVED FURTHER THAT the consent of members be and is hereby accorded that all citation
made in the issued RFRP shall now stands updated from 14th March 2024 to (as decided by CoC).

RESOLVED FURTHER THAT Mr. Navneet Kumar Gupta, Resolution Professional of the project
corporate debtor appointed by the Committee of Creditors be and is hereby authorized to do all such
acts, deeds and things as may be considered necessary to give effect to the above resolution including
communication thereof.”

C. Any Other Matter to be discussed/proposed for resolution.

The members of the CoC would be entitled to raise any other matter to be discussed and may propose
any resolution to be discussed and passed at the meeting with the permission of the chair.

Regards
Navneet Kumar Gupta
Resolution Professional
Serene Residency Group Housing Project at Sector ETA II, Greater Noida of
Ansal Properties and Infrastructure Limited
IBBI Registration No.: IBBI/IPA-001/IP-P00001/2016-2017/10009
Registered Address: Unit No. 2, Block D1, Golf Link DDA, Sector 23B,
Pocket 8, Dwarka, New Delhi – 110077
Process E-mail ID: cirpofserenegrouphousingetaII@minervaresolutions.com
Email ID: navneet@minervaresolutions.com