MANOJ MISRA, J.
1. This appeal, under Section 62 of the Insolvency
and Bankruptcy Code, 20161, impugns judgment and
order of the National Company Law Appellate
Tribunal, Principal Bench at New Delhi2, dated
17.12.2021, passed in Company Appeal (AT) (Ins) No.
68 of 2019 and I.A. No. 1078 of 2021.
FACTS
2. A brief narration of facts in a chronological order
would be apposite. The first respondent (State Bank
1 IBC
2 NCLAT
of India3), claiming itself to be the Financial Creditor4
of M/s. Metal Closure Pvt. Ltd. (i.e., the Corporate
Debtor5), filed an application under Section 76 of IBC
on behalf of self and on behalf of a consortium of
3 SBI
4 FC
5 CD
Section 7. Initiation of corporate insolvency resolution process by financial creditor. – (1) A financial
creditor either by itself or jointly with other financial creditors, or any other person on behalf of the
financial creditor, as may be notified by the Central Government, may file an application for initiating
corporate insolvency resolution process against a corporate debtor before the Adjudicating Authority
when a default has occurred.