ASHOK BHUSHAN, R. SUBHASH REDDY, M. R. SHAH
Phoenix Arc Pvt. Ltd. – Appellant
Versus
Ketulbhai Ramubhai Patel – Respondent
JUDGMENT :
ASHOK BHUSHAN, J.
This appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “Code”) has been filed questioning the judgment of the National Company Law Appellate Tribunal, New Delhi dated 09.04.2019 dismissing the Company Appeal filed by the appellant. The Company Appeal was filed by the appellant against order dated 22.02.2019 of National Company Law Tribunal, Mumbai Bench rejecting the Miscellaneous Application filed by the appellant under Section 60(5)(c) of the Code holding that the appellant is not the financial creditor of the corporate debtor, Doshion Veolia Water Solutions Private Limited.
2. Brief facts of this case for deciding this appeal are:
L & T Infrastructure Finance Company Limited advanced the financial facility to Doshion Limited, a Company incorporated and registered under the Companies Act, 1956. A Facility Agreement dated 12.05.2011 was executed between the Doshion Limited (borrower) and L & T Infrastructure Finance Company Limited (lender) advancing to the borrower a financial facility of Rs.40 crores repayable in 72 structured monthly instalments. Schedule IV of the facility agreement dealt with “Security Cre
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