JUDGEMENT

(09.05.2023) [Per: Dr. Alok Srivastava, Member (T)] Comp. App. (AT) (Ins.) Nos.747 & 748/2021 1. Two Appeals, namely Company Appeal (AT) (Ins.) No.747/2021 (“Appeal – I”) and Company Appeal (AT) (Ins.) No.748/2021 (“Appeal – II”), are being disposed of through this common judgement.

2. The above-stated Appeals have been filed under Section 61 of the Insolvency and Bankruptcy Code (“IBC”), assailing order dated 30.07.2021 (“impugned order”) passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi), whereby I.A. No.2499/2020 and I.A. No.2496/2020, both filed in the Company Petition No. (IB) – 197(ND)/2018 preferred under section 7 of the IBC.

3. The impugned order has concluded that the charge on the property of the corporate debtor with respect to the two Agreements in form of Bajaj Finance Ltd. (Respondent in both the Appeals) has not been created with an intent to defraud the creditors of the corporate debtor and hence the said transactions regarding creation of charge over the property bearing No. K – 3, 5th Floor, Brahm Datt Tower, Sector 18, Noida (“mortgaged property”) is not a fraudulent transaction.

Additionally, a transaction am