The Respondent, Indian Base Metals Co. Ltd., issued a demand notice under Section 8(1) and filed an application under Section 9 of the I&B Code. The Adjudicating Authority (National Law Company Tribunal), Kolkata Bench, held that the Respondent is a 'Financial Creditor' and allowed the Respondent to change the format for treating the application under Section 7. The Appellant, Mohan Kumar Chimar, filed an appeal against this decision, arguing that an application under Section 9 cannot be converted to one under Section 7. The appellant also argued that the debt was barred by limitation. The key fact is the dispute over the conversion of the application from Section 9 to Section 7 and the applicability of the limitation period.

The Respondent, Indian Base Metals Co. Ltd., issued a demand notice under Section 8(1) and filed an application under Section 9 of the I&B Code. The Adjudicating Authority (National Law Company Tribunal), Kolkata Bench, held that the Respondent is a 'Financial Creditor' and allowed the Respondent to change the format for treating the application under Section 7. The Appellant, Mohan Kumar Chimar, filed an appeal against this decision, arguing that an application under Section 9 cannot be converted to one under Section 7. The appellant also argued that the debt was barred by limitation. The key fact is the dispute over the conversion of the application from Section 9 to Section 7 and the applicability of the limitation period.