NCLAT Upholds Assignment of Admitted GST Dues as Operational Debt

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...