This appeal was filed by Manoj Gaur and another, promoters of M/s Gaursons Sportswood Private Limited (the 'Corporate Debtor'), challenging an order dated July 10, 2019. This order was issued by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, which had admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code). The application was filed by Mr. Ajay Jugran, who was referred to as the 'Financial Creditor', against the 'Corporate Debtor'. The core of the dispute revolved around whether Mr. Ajay Jugran could be considered a 'Financial Creditor' given his alleged failure to pay the amount upon receipt of a demand notice.

This appeal was filed by Manoj Gaur and another, promoters of M/s Gaursons Sportswood Private Limited (the 'Corporate Debtor'), challenging an order dated July 10, 2019. This order was issued by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, which had admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code). The application was filed by Mr. Ajay Jugran, who was referred to as the 'Financial Creditor', against the 'Corporate Debtor'. The core of the dispute revolved around whether Mr. Ajay Jugran could be considered a 'Financial Creditor' given his alleged failure to pay the amount upon receipt of a demand notice.