Hind Motors India Ltd., the 'Corporate Applicant,' filed an application under Section 10 of the Insolvency and Bankruptcy Code 2016 to initiate Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority (NCLT, Chandigarh) admitted the appeal concerning debts of 'financial institutions' and 'operational creditors'. However, the NCLT segregated the application insofar as it related to public depositors. The appellant, Hind Motors India Ltd., argued that the Adjudicating Authority could not exclude 'public depositors' who, according to them, fall within the meaning of 'financial creditors'. The NCLAT considered the impugned order and submissions made on behalf of the appellant.

Hind Motors India Ltd., the 'Corporate Applicant,' filed an application under Section 10 of the Insolvency and Bankruptcy Code 2016 to initiate Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority (NCLT, Chandigarh) admitted the appeal concerning debts of 'financial institutions' and 'operational creditors'. However, the NCLT segregated the application insofar as it related to public depositors. The appellant, Hind Motors India Ltd., argued that the Adjudicating Authority could not exclude 'public depositors' who, according to them, fall within the meaning of 'financial creditors'. The NCLAT considered the impugned order and submissions made on behalf of the appellant.