Ellison Oil Field Services Pvt. Ltd. Vs CITOC Ventures Pvt. Ltd. & Ors. (NCLAT Delhi)
The appeal concerns Ellison Oil Field Services Pvt. Ltd.’s challenge to the National Company Law Appellate Tribunal (NCLAT) order dismissing its application under I.A. No. 2277 of 2024 before the NCLT, Mumbai Bench. Ellison Oil sought to declare the assignment deed dated 13.12.2023 between CITOC Ventures Pvt. Ltd. (Respondent No. 1) and the GST Department (Respondent No. 2) void and unenforceable, to exclude Respondent No. 1 from being recognized as an operational creditor, and to reverse changes in the Committee of Creditors (CoC) voting resulting from the debt assignment.
The Corporate Debtor (CD), SES Energy Services India Pvt. Ltd., was admitted to Corporate Insolvency Resolution Process (CIRP) on 25.11.2022 under Section 10 of the Insolvency and Bankruptcy Code (IBC), and Ms. Dipti Mehta was appointed as Interim Resolution Professional (IRP), later replaced by Vijay Kumar V. Iyer and subsequently by Anish Nanawati. The IRP invited claims from creditors, after which the GST Department (Respondent No. 2) submitted a claim of Rs. 7,88,52,896/- on 29.12.2022 based on a show-cause cum demand notice issued on 29.12.2020. Following final adjudication by the Principal Commissioner, CGST & Central Excise, the admitted liability was determined as Rs. 2,71,44,043/- including principal, interest, and penalties.
