# In the matter of Ellison Oil Field Services Pvt. Ltd. vs. CITOC Ventures Pvt. Ltd. & Ors.

> NCLAT judgment dated 2025-09-17. Citation: TCN-2025-NCLAT-00512. The appeal challenges the order dated 21.08.2024 passed by the NCLT, Mumbai Bench 1, which…

- **Court:** NCLAT
- **Order date:** 17 Sept 2025
- **Citation:** TCN-2025-NCLAT-00512
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ellison-oil-field-services-pvt-ltd-vs-citoc-ventures-pvt-ltd-ors-d5593344

## Summary

### Background

The appeal challenges the order dated 21.08.2024 passed by the NCLT, Mumbai Bench 1, which dismissed an application (I.A No. 2277 of 2024) filed by the Appellant seeking certain declarations and directions related to a debt assignment.

## Facts

SES Energy Services India Pvt. Ltd. (Corporate Debtor) was admitted to CIRP on 25.11.2022.

Dipti Mehta was appointed as the Interim Resolution Professional (IRP) and later confirmed as RP.

The IRP made a public announcement on 26.11.2022 initiating CIRP and inviting claims from creditors.

The office of assistant commissioner of central GST and Excise Division (Respondent No. 2) submitted a claim in form B for Rs. 7,88,52,896/- on 29.12.2022.

The Principal Commissioner, CGST & Central Excise, Mumbai East passed an order on 17.05.2023 regarding the show cause notice on which Respondent No. 2 filed the claim.

Dipti Mehta was replaced by Vijay Kumar V Iyer as the RP on 23.08.2023.

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## Issues and analysis

### Issue 1: Whether the assignment of debt from Respondent No. 2 to Respondent No. 1 is valid under the …

**Ratio:** Once Respondent No. 2 became an operational creditor, it had the right to assign its debt

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**Reasoning:** The NCLAT reasoned that the tax liability of the Corporate Debtor had transformed into a

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**Interpretation:** The NCLAT interpreted the relevant provisions of the Insolvency and Bankruptcy

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**Application:** The NCLAT applied the legal principles to the specific facts of the case,

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## Parties

- **Judges:** Rakesh Kuma…; Naresh Sa…
- **Appellants:** Ellison Oil Field…
- **Respondents:** SES Energy…; CITOC Ventures…; +4 more
- **Other parties:** Dipti M…; Assistant…; +2 more
- **Advocates:** Gaurav…; Shubham Kulshresht…; +17 more

## Timeline

- **2022-11-25 — CIRP Admi…**: SES Energy Services India Pvt.…
- **2022-11-26 — Public Annou…**: IRP made a public announcement…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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