{"id":208270,"date":"2019-01-17T12:00:34","date_gmt":"2019-01-17T06:30:34","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=208270"},"modified":"2019-03-07T12:09:24","modified_gmt":"2019-03-07T06:39:24","slug":"nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/","title":{"rendered":"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code"},"content":{"rendered":"

National Company Law Appellate Tribunal:\u00a0<\/strong>The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) disposed of an appeal filed by the workers\/employees of Tantia Constructions Ltd. (Corporate Debtor).<\/p>\n

The appellants were the workers\/employees of the Corporate Debtor. State Bank of India (Financial Creditor) had filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 for initiation of the corporate insolvency resolution process. Appellants moved an application for intervention to bring to NCLT’s notice that winding up proceedings had already been initiated against Corporate Debtor under Sections 433(e) and 434 of the Companies Act and therefore application under Section 7 was not maintainable. NCLT held that appellants had no\u00a0locus standi.\u00a0<\/em>This order was challenged in the present appeal.<\/p>\n

The Appellate Tribunal agreed with NCLT that at the stage of filing of an application under Section 7, no person has a right to claim for hearing except the Corporate Debtor. \u00a0However, it was observed that NCLT should keep in mind the provisions of Section 11 according to which application under Section 7 or 9 is not maintainable if winding up proceedings had been initiated against the Corporate debtor. In such background, the appellants were not allowed to oppose or support the application at the stage of admission. However, NCLT was directed to decide the matter taking into consideration the fact of winding up proceedings brought to its notice by the appellants. [Deb Kumar Majumder v. State Bank of India,\u00a02019 SCC OnLine NCLAT 26<\/b><\/a>, dated 14-01-2019]<\/p>\n","protected":false},"excerpt":{"rendered":"

National Company Law Appellate Tribunal:\u00a0The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) disposed of an appeal <\/p>\n","protected":false},"author":8808,"featured_media":153604,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[25934,33263,32724,18431],"class_list":["post-208270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-financial-creditor","tag-right-to-claim","tag-section-7-ib-code","tag-winding-up-proceeding"],"yoast_head":"\nNCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code\" \/>\n<meta property=\"og:description\" content=\"National Company Law Appellate Tribunal:\u00a0The Bench of Justice S.J. 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Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial), dismissed an appeal filed by the Financial Creditor, holding it to be sans merit. 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Mukhopadhaya and Bansi Lal Bhat, J., dismissed a company appeal filed against the order of the National Company Law Tribunal which dismissed the appellant\u2019s application filed under Section 7 of the Insolvency and Bankruptcy Code 2016, for initiation of\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":358773,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/09\/03\/no-financial-creditor-status-with-invalid-debt-assignment-nclat-new-delhi\/","url_meta":{"origin":208270,"position":2},"title":"No Financial Creditor status with invalid Debt Assignment: NCLAT sets aside initiation of CIRP under Section 7 IBC","author":"Shikha","date":"September 3, 2025","format":false,"excerpt":"\u201cFor maintaining an application for default of another Financial Creditor, the essential ingredients to be fulfilled by the Applicant is that the Applicant has to be a Financial Creditor on its own facts.\u201d","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"invalid debt assignment","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/09\/invalid-debt-assignment.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/09\/invalid-debt-assignment.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/09\/invalid-debt-assignment.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/09\/invalid-debt-assignment.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":182114,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/01\/17\/insolvency-bankruptcy-code-2016-ibc\/","url_meta":{"origin":208270,"position":3},"title":"Insolvency & Bankruptcy Code, 2016 (IBC)","author":"Saba","date":"January 17, 2018","format":false,"excerpt":"by K.R. Bulchandani*","rel":"","context":"In "Op Eds"","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/insolvency.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/insolvency.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/insolvency.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/insolvency.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/insolvency.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":324116,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/06\/11\/nclt-initiates-corporate-insolvency-proceedings-against-himalayan-mineral-water-scc-times\/","url_meta":{"origin":208270,"position":4},"title":"NCLT initiates corporate insolvency proceedings against Himalayan Mineral Water","author":"Ritu","date":"June 11, 2024","format":false,"excerpt":"The application is filed by Jammu and Kashmir Bank against the Himalayan Mineral Waters Private Limited for a total financial debt of Rs. 50,04,38,456\/- for the credit facilities availed by Leel Electricals.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/National-Company-Law-Tribunal.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/National-Company-Law-Tribunal.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/National-Company-Law-Tribunal.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/National-Company-Law-Tribunal.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":292071,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/05\/13\/operational-creditor-be-paid-equivalent-amount-under-sec-53-ibc-in-liquidation-of-corporate-debtor-legal-news\/","url_meta":{"origin":208270,"position":5},"title":"Operational Creditors must be paid equivalent amount as per Section 53 of the IBC in case of liquidation of Corporate Debtor: SC","author":"Editor","date":"May 13, 2023","format":false,"excerpt":"The Court said that Vistra ITCL (India) Ltd. would be treated as a secured creditor in terms of Section 52 and 53 of the IBC, and would be entitled to retain the security interest in the pledged shares.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"payment to operational creditors under ibc","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/payment-to-operational-creditors-under-ibc.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/payment-to-operational-creditors-under-ibc.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/payment-to-operational-creditors-under-ibc.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/payment-to-operational-creditors-under-ibc.webp?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/208270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=208270"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/208270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/153604"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=208270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=208270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=208270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}