JUDGMENT

(Hybrid Mode)

[Per: Arun Baroka, Member (Technical)]

This is an appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 ("Code") challenging the order dated 10th August, 2021 ("Impugned Order") passed by the Hon’ble National Company Law Tribunal, Mumbai Bench ("NCLT/Adjudicating Authority") in C.P. No. 3073/IBC/MB/2019 ("said Application") filed by the Respondent No.1 under Section 7 of the Code seeking initiation of Corporate Insolvency Resolution Process ("CIRP") against Sangeeta Aviation Services Private Limited ("Corporate Debtor"). The Adjudicating Authority allowed the said Application vide order dated 10th August, 2021, thereby, allowing initiation of CIRP of the Corporate Debtor.

Appellant’s Case

1. The Impugned Order is challenged on the grounds that it is contrary to law and adversely affects the rights of the Corporate Debtor, as Respondent No.1 has wrongfully claimed to be a Financial Creditor under Section 7 of the Code and has misled the Adjudicating Authority.

2. As a background of the Case:

a) Respondent No.1 filed C.P. No. 3073/2019 (Gannon Dunkerley & Co.Ltd. vs. Sangeeta Aviation Services Private Limited) under Section 7 of the Code in July 2019 (