The appeal was filed under Section 61 of the IBC, 2016, against the Adjudicating Authority's order dated 02.03.2021. The Appellant No. 1, Doha Bank, claimed to be a direct lender and secured Financial Creditor of Reliance Infratel Ltd. (Corporate Debtor). The appellant was aggrieved by the Adjudicating Authority's decision to classify indirect lenders as Financial Creditors of the Corporate Debtor. The appellant contended that Respondents 2 to 5 were not lenders to the Corporate Debtor, and the Corporate Debtor did not extend any Corporate Guarantee in favor of the Respondents. The appellant argued that considering the Respondents as Financial Creditors based on the 'Deed of Hypothecation' (DOH) was an ignorance of Section 5(8) of the Code. The appellant challenged the
…Doha Bank, the Appellant No. 1, claimed to be a direct lender and secured Financial Creditor of Reliance Infratel Ltd. (Corporate Debtor). The Corporate Debtor had gone under CIRP based on a Company Petition filed under Section 9 of the Code. The IRP made a public announcement inviting claims from the Creditors of the Corporate Debtor, and the Appellants submitted their claims. The Appellant observed that the revised list of financial creditors of the Corporate Debtor contained the names of Indirect Lenders who are the Creditors of Rcom and RTL. The Appellant contended that Respondents 2 to 5 are not the lenders of the Corporate Debtor, nor has the Corporate Debtor extended any Corporate Guarantee in favor of Respondents. The Appellant argued that considering the
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Order passed by Adjudicating Authority…
Corporate Debtor went…
The appeal was filed under Section 61 of the IBC, 2016, against the Adjudicating Authority's order dated 02.03.2021. The Appellant No. 1, Doha Bank, claimed to be a direct lender and secured Financial Creditor of Reliance Infratel Ltd. (Corporate Debtor). The appellant was aggrieved by the Adjudicating Authority's decision to classify indirect lenders as Financial Creditors of the Corporate Debtor. The appellant contended that Respondents 2 to 5 were not lenders to the Corporate Debtor, and the Corporate Debtor did not extend any Corporate Guarantee in favor of the Respondents. The appellant argued that considering the Respondents as Financial Creditors based on the 'Deed of Hypothecation' (DOH) was an ignorance of Section 5(8) of the Code. The appellant challenged the
…Doha Bank, the Appellant No. 1, claimed to be a direct lender and secured Financial Creditor of Reliance Infratel Ltd. (Corporate Debtor). The Corporate Debtor had gone under CIRP based on a Company Petition filed under Section 9 of the Code. The IRP made a public announcement inviting claims from the Creditors of the Corporate Debtor, and the Appellants submitted their claims. The Appellant observed that the revised list of financial creditors of the Corporate Debtor contained the names of Indirect Lenders who are the Creditors of Rcom and RTL. The Appellant contended that Respondents 2 to 5 are not the lenders of the Corporate Debtor, nor has the Corporate Debtor extended any Corporate Guarantee in favor of Respondents. The Appellant argued that considering the
…Order passed by Adjudicating Authority…
Corporate Debtor went…