ORDER

Per Bidisha Banerjee, Member (Judicial):

1. The Court convened through hybrid mode.

2. Ld. Sr. Counsel /Counsels for the parties were heard at length.

3. This Petition has been taken out for a fresh hearing on remand from Hon’ble NCLAT vide its order dated 19.02.2025.

4. Arguments advanced by the Financial Creditor (FC):

4.1. Limited Scope of Proceedings in light of decision of Hon’ble NCLAT.

4.1.1.Ld. Sr. Counsel for the Financial Creditor would submit that Hon’ble NCLAT in Company Appeal (AT) (Insolvency) No. 1427 of 2023 dated 19th February, 2025 had already held that Adhunik Corporation Limited (ACL) is a financial creditor in accordance with I&B Code, 2016.

4.1.2.Further, the Hon’ble NCLAT has directed this Tribunal to satisfy itself only on the following issues:

a) Whether the financial debt has crossed the threshold limit?

b) Whether the financial debt has become due and payable?

4.2. Unpaid Financial Debt is more than INR 1 Crore

4.2.1.It is further submitted that a total financial debt of INR 42,47,32,067.00 (Rupees Forty Two Crore Forty-seven Lakh Thirty- two Thousand and Sixty-seven only) is due and payable by Corporate Debtor to the Financial Creditor and the same is arising