PHOENIX ARC PVT. LTD. vs KETULBHAI RAMUBHAI PATEL

The Supreme Court addressed an appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016, challenging the dismissal of a Company Appeal by the National Company Law Appellate Tribunal. The court examined whether the appellant, Phoenix ARC Pvt. Ltd., qualified as a financial creditor of the corporate debtor, Doshion Veolia Water Solutions Private Limited. Ultimately, the court upheld the lower tribunal's decision, affirming that the appellant did not meet the criteria to be recognized as a financial creditor.