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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Hon'ble Justice Rakesh Kumar Jain (Member(Judicial)) , Hon'ble Mr. Naresh Salecha (Member (Technical)) ,
Avil Menezes – Appellant
Versus
Hinduja Leyland Finance Limited – Respondent
| Table of Content |
|---|
| 1. corporate debtor's financial history (Para 1 , 2 , 3 , 4) |
| 2. appellant's claim of priority (Para 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19 , 20 , 21 , 22 , 23 , 24 , 25 , 26 , 27 , 28 , 29 , 30 , 31 , 32 , 33 , 34 , 35 , 36 , 37 , 38 , 39 , 40 , 41 , 42 , 43 , 44 , 45 , 46 , 47 , 48 , 49 , 50 , 51 , 52) |
| 3. first charge holder's rights (Para 53 , 54 , 55 , 56 , 57 , 58) |
| 4. appeal allowed (Para 59) |
JUDGEMENT
( 21.01.2025)
NARESH SALECHA, MEMBER (TECHNICAL)
1. The present appeal has been filed by the Appellant Avil Menezes who is Liquidator of Sunil Hitech and Engineers Limited (‘Corporate Debtor’) against the Impugned Order dated 19.12.2023 under Section 61 of the Insolvency and Bankruptcy Code, 2016 (‘Code’) passed by the National Company Law Tribunal, Mumbai Bench-I (‘Adjudicating Authority’) in I.A. No. 699 of 2021 in CP (IB) 2295/NCLT/MB/2018.
2. M/s Hinduja Leyland Finance Limited is the Respondent herein.
3. The Adjudicating Authority vide its order dated 10.09.2018 initiated Corporate Insolvency Resolution Process (‘CIRP’) against the Corporate Debtor and subsequently based on the Resolution Professional’s application, the Adjudicating Aut
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