Navin Kha ndelwal 206,Navneet Plaza,

Old Palasia, Indore 452 018

F.C.A, D.LS.A, Reg Valuer , IRP Email: navink25@yahoo.com

IBBI Reg. No. IBBI/IPA-001/IP-P00703/2017-2018/11301

CIN L34300MP1974PLC001598 GBGL/SEARP/NK/2020-21 29"Spetember,2020

Online filing at www.listing.bseindia.com \,

To, The General Manager DCS-CRD

BSE Limited Dalal Street, Fort Mumbai — 400001

BSE CODE: 505711

Sub: Outcome of the Third Meeting of Committee of Creditors(“COC”) of Gajra Bevel Gears Ltd. held on

18"September, 2020,

Dear Sir/Ma’am,

We hereby inform you that pursuant to the provisions of the IBBI (Insolvency Resolution Process for Corporate

Persons) Regulations, 2016, the 3meeting of Committee of Creditors (COC) was to be held on 17" September,

2020 at 03:30 P.M. at 206, Navneet Plaza 5/2 Old Palasia, Indore (M.P.) 452018, but due to lack of Quorum the

meeting was postponed to next day i.e. 18"September, 2020 at 03:30 P.M. at 206, Navneet Plaza 5/2 Old Palasia,

Indore (M.P.) 452018 as per the Regulation 22 of IBBI (Insolvency Resolution Process for Corporate Persons)

Regulations, 2016.

The outcome of the meeting was as under: |. The following resolutions were passed through E-voting with 100% votesin Favour:

a) Appointment of Registered Valuers within a total cost of Rs. 1,30,000/-(Rupees One Lakh Thirty

Thousand Only).

b) Acceptance of Resignation of Secretarial Auditor M/s Naveen Jain & Co.

c) Acceptance of Resignation of Statutory Auditor M/s D.N. Jhamb& Co. Chartered Accountants.

ee Status updation by the RP to the COC a) RP informed that he has not received the charge of the assets.

b)_ The following claim were received by the RP till 17.09.2020:

S.No. | Particulars No. of Claimants Amount of Claim

i. Financial Creditors Unsecured-02 Rs. 28,89,70,301.00

; Secured-01 Rs. 8,90,87,834.00

Total | Rs. 37,80,58,135.00

[-e Operational Creditors a: ye Rs.81,91,773.25

ee Claims from Workmen & Employee 44 _ Rs. 86,72.739.00 Grand Total Ito 3 Rs.39,49,22,647.25 |

c) Appointment of Shri Rajesh Lohia as per the section 25(2)(d) of IBC, 2016.

d) RP approved the transfer of amount of IDB] &HDFC Bank Account to BOB Account and to close

both the accounts.

e) RP has hosted various Documents on the website of CD as per IBC, 2016.

f) Removal of security guard from the site of CD w.e.f. 1“ October 2020.

3. The RP informed the COC that the assets of Corporate Debtor are still under the charge of EPFO Department

and the Hon*ble NCLT has ordered the RP to file application to appropriate forum for taking custody of the

same.

4. The RP has appointed 2 sets of registered valuers for each asset class viz. Plant & Machinery, Land

&Building and Security &Financial Assets.

Navin Khandelwal 206,Navneet Plaza, Old Palasia, Indore 452 018

F.C.A, D.1.S.A, Reg Valuer , IRP Email: navink25@yahoo.com

IBBI Reg. No. IBBI/IPA-001/1P-P00703/2017-2018/11301

nam TCR aS

IIS: 16, 17.

Assets class Plant & Machinery, Land &Building and | Security & Financial Assets.

Name of | Shri Mayur Mukaty Shri Ashish Naramdeo | Shri SumitDhadda =

Registered Shri Dilip Kumar Jain Shri Lalit kale Shri Ishwar Lal Kalantri

Valuers The CoC took note of the delay in preparation of Information Memorandum due to non-receipt of

Information from the suspended management . os

Publication of Form G on 75" day in the newspaper for inviting expression of interest from the Resolution

Applicants subject to approval by COC members through E-Voting.

Consideration for appointment of Statutory auditors on casual vacancy due to resignation of Statutory

Auditor M/s D.N. Jnamb& Co.

Consideration for appointment of Secretarial auditors on casual vacancy due to resignation of Secretarial

Auditor M/s Naveen Jain & Co for the year 2019-20. Conducting the Annual General Meeting of the company on or before 31° December 2020 as per the

provisions of Companies Act, 2013.

. The matter relating to appointment of transaction Auditor was deferred to the next CoC Meeting as the RP

has not received the charge of assets and all the documents from the suspended management.

. Consideration for appointment of lawyer to file case at appropriate forum for taking over the charge of

assets.

. The RP informed about the various compliances and filings done by him as per the requirement of SEBI

(LODR),2015. . Acceptance of Resignation of CS Monika Nishant Gattani w.e.f. 1" October 2020 subject to E-Voting by

the CoC and authority to appoint a new Company Secretary to RP.

. Approval of co&t incurred by the RP from his personal account amounting to Rs. 27,390/- in total.

Approval of contribution of expenses incurred by the CoCtill 17" September 2020.

The request for resolution plan was put on hold as the charge of assets is not received by the RP.

It was discussed to take other business for E-voting including appointment of Secretarial Auditor and

resignation of CS Monika Nishant Gattani. z

The above information may be treated as disclosure under Regulation 30 read with Part A of Schedule III of the of

the SEBI (LODR) Regulations, 2015.

You are requested to take the aforesaid information on record and oblige.

Thanking you,

Yours faithfully,

eases ,

NAVIN KHANDELWAL IBBI/IPA-001/IP-P00703/2017-18/11301)

RP for Gajra Bevel Gears Ltd.Under CIRP