JUDGMENT

(Hybrid Mode)

[Per: Justice Sharad Kumar Sharma, Member (Judicial)]

The instant company appeal puts a challenge to the Impugned Order dated 24.06.2022, as it has been rendered by the Ld. NCLT, Hyderabad Bench in CP(IB)No.88/95/IBC/HDB/2021. As a consequence of the Impugned Order dated 24.06.2022, the Appellant was directed to be admitted into insolvency resolution process under Section 95 of I & B Code, 2016.

2. The brief facts as it engages consideration in the instant company appeal are that, the company under the name and style of M/s. Deccan Chronicle Holdings Limited, (the Corporate Debtor herein), had been incorporated as per the provisions of the Companies Act, as back as on 1991. The said company, i.e., the Principal Borrower was ultimately found to have committed default in the remittance of its financial dues, within stipulated time, as it was agreed upon, by the Corporate Debtor and the Financial Creditor (L & T Finance Limited).

3. Consequentially, they were made to face the CIRP proceedings under Section 7 of the I & B Code. But there are certain inevitable ancillary facts, which too are necessarily required to be conjointly referred to at the stage when we are con