# In the matter of Mahesh Kumar Panwar Vs. Neelam Singh & Anr. CA (AT) (Insolvency) No. 185-2017

> NCLAT judgment dated 2018-03-09. Citation: TCN-2018-NCLAT-00344. The case pertains to Company Appeal (AT) (Ins) No. 185 of 2017 before the National Company…

- **Court:** NCLAT
- **Order date:** 9 Mar 2018
- **Citation:** TCN-2018-NCLAT-00344
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mahesh-kumar-panwar-vs-neelam-singh-anr-ca-58a9a89c

## Summary

### Background

The case pertains to Company Appeal (AT) (Ins) No. 185 of 2017 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appellant is Mahesh Kumar Panwar, and the respondent is Neelam Singh & Anr. The hearing on 09.03.2018 remained inconclusive, and the appellant was given time to present records showing the return of Rs. 9 lakhs to the respondent, Neelam Singh, as indicated in the Annual Return as of 31.03.2017. The tribunal noted agreements dated 06.10.2008 and 10.11.2008, finding prima facie that Neelam Singh is a financial creditor, and her case is covered under the Appellate Tribunal decision in Nikhil Mehta & Sons (HUF) & Ors Vs AMR Infrastructure Ltd in Company Appeal (AT)(Ins) No.7 of 2017.

## Facts

Mahesh Kumar Panwar filed a Company Appeal (AT) (Ins) No. 185 of 2017 against Neelam Singh & Anr. The hearing on 09.03.2018 was inconclusive. The appellant was directed to produce records showing the return of Rs. 9 lakhs to the respondent, Neelam Singh, as per the Annual Return as of 31.03.2017. The tribunal noted agreements dated 06.10.2008 and 10.11.2008, based on which it found prima facie that Neelam Singh is a financial creditor. The case is covered under the Appellate Tribunal decision in Nikhil Mehta & Sons (HUF) & Ors Vs AMR Infrastructure Ltd in Company Appeal (AT)(Ins) No.7 of 2017. The case was listed for further hearing on 13th March, 2018.

## Issues and analysis

### Issue 1: Whether Neelam Singh is a financial creditor based on the agreements dated 06.10.2008 and …

**Ratio:** The legal principle is that a financial creditor is a person to whom a financial debt is

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**Reasoning:** The tribunal noted agreements dated 06.10.2008 and 10.11.2008 and found prima facie that

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**Interpretation:** The interpretation of the agreements is crucial in determining whether they

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**Application:** Based on the agreements dated 06.10.2008 and 10.11.2008, the tribunal applied

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Mahesh Kumar…
- **Respondents:** AMR Infrastructure…; Neelam…

## Timeline

- **2017-01-01 — Company Appea…**: Company Appeal (AT) (Ins)…
- **2018-03-09 — Hearing…**: Hearing held; remained inconclusive.…

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