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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Naresh Salecha, Member (Technical)
Bizloan Private Limited – Appellant
Versus
Mr. Amit Chandrashekhar Poddar – Respondent
| Table of Content |
|---|
| 1. appeal stems from creditor classification dispute. (Para 1 , 2 , 3 , 4 , 5) |
| 2. arguments focus on statutory compliance and creditor rights. (Para 6 , 7 , 8 , 9) |
| 3. court examines law governing creditor classifications. (Para 20 , 21 , 22 , 30) |
| 4. court recognizes cersai registration suffices under specific regulations. (Para 52 , 53) |
| 5. final verdict establishes creditor's status as secured. (Para 54 , 55) |
JUDGEMENT
(03.07.2025)
NARESH SALECHA, MEMBER (TECHNICAL)
1. The present appeal has been filed by Bizloan Private Limited who is the Financial Creditor for providing credit facilities in form of sales bill discounting (SBD) and purchase bill discounting (PBD) of Rs. 1 Crore in aggregate to the Autocop (India) Private Limited i.e., the Corporate Debtor (now under liquidation) against the Impugned Order dated 19.12.2023 passed in IA No. 2620/2023 in CP (IB) No. 2043/ MB/ C-II/ 2018 by National Company Law Tribunal, Mumbai Bench (Court-II) (“Adjudicating Authority”) which classified the Appellant as Unsecured Creditors instead of Secured Financial Creditor.
2. Shorn of unnecessary details, it is noted that the Corporate Insolvency Resolution Process (‘CIRP’) was initiated
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