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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Arun Baroka, Member (Technical)
H.E. Captain Ammeet K Agarwal Suspended Director of Sangeeta Aviation Services Private Limited – Appellant
Versus
Gannon Dunkerley And Company Limited – Respondent
| Table of Content |
|---|
| 1. appellant contests the cirp initiation based on inadequate financial creditor status. (Para 1 , 2 , 3) |
| 2. challenges raised concerning procedural defects and the nature of debt. (Para 4 , 5 , 6 , 7) |
| 3. context of the case established by background and parties involved. (Para 8 , 9 , 10) |
| 4. court's ruling surrounding the concept of financial debt and creditor status. (Para 21 , 22 , 23 , 28) |
| 5. conclusion affirming the tribunal's decision on cirp initiation. (Para 31) |
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 Debto
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