Shareholders have locus standi to file appeal u/s. 61 of IBC hence appeal maintainable

Balkishan Shrikisan Baldawa Vs Agri-Tech (India) Limited (NCLAT Delhi) NCLAT Delhi held that shareholders have locus standi to file appeal under section 61 of the Insolvency and Bankruptcy Code and hence the appeal is maintainable. Further, appellant has made out case of fraudulent initiation of CIRP since both Financial Creditor and Corporate Debtor are related parties. Facts- The Appellants herein namely Balkishan Shrikisan Baldawa had filed an application under Section 60(5) read with Section 65 of the Insolvency and Bankruptcy Code, 2016 wherein the highlighted fraud perpetrated by Respon...