# In the matter of Hind Motors India Ltd. Vs Adjudicating Authority NCLT, Chandigarh CA (AT) No. 11-2017

> NCLAT judgment dated 2017-04-10. Citation: TCN-2017-NCLAT-00184. The appellant, identified as the 'Corporate Applicant,' initiated Corporate Insolvency…

- **Court:** NCLAT
- **Order date:** 10 Apr 2017
- **Citation:** TCN-2017-NCLAT-00184
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/hind-motors-india-ltd-vs-adjudicating-authority-nclt-chandigarh-ca-aac50a73

## Summary

### Background

The appellant, identified as the 'Corporate Applicant,' initiated Corporate Insolvency Resolution Process (CIRP) by filing an application under section 10 of the Insolvency and Bankruptcy Code (IBC) 2016. The Adjudicating Authority (NCLT Bench) admitted the appeal concerning debts of 'financial institutions' and 'operational creditors' but segregated the application concerning public depositors. The appellant's grievance is that the Adjudicating Authority cannot exclude 'public depositors' who fall within the meaning of 'financial creditors'.

## Facts

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.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can exclude 'public depositors' who also come within the meaning …

**Ratio:** The ratio is based on the interpretation of the Insolvency and Bankruptcy Code 2016,

…

**Reasoning:** The court did not provide a definitive answer but allowed the appellant to raise the

…

**Interpretation:** The interpretation revolves around whether 'public depositors' can be

…

**Application:** The court's decision allows Hind Motors India Ltd. to challenge the exclusion

…

## Parties

- **Judges:** S.J. Mukhop…; Balvinder…
- **Appellants:** Hind Motors India…
- **Respondents:** Adjudicating…

## Timeline

- **2017-03-09 — Impugned Ord…**: The Adjudicating Authority (NCLT Bench) issued an impugned order in C.P. No.…
- **2017-04-10 — Order Da…**: The NCLAT disposed of the appeal with observations regarding the appellant's right to…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/hind-motors-india-ltd-vs-adjudicating-authority-nclt-chandigarh-ca-aac50a73