(1.) These appeals are essentially directed against the common order dated 01.08.2019 as passed by the National Company Law Appellate Tribunal, New Delhi, Hereinafter also referred to as 'the Appellate Tribunal' or 'NCLAT' in a batch of appeals preferred by various banks and financial institutions whereby, the Appellate Tribunal set aside the order dated 16.05.2018, passed by the Adjudicating Authority, the National Company Law Tribunal, Allahabad Bench, Hereinafter also referred to as 'the Tribunal ' or 'NCLT ' or 'the Adjudicating Authority '. on the application moved by the Interim Resolution Professional, 'IRP' for short. in the Corporate Insolvency Resolution Process, 'CIRP' for short. concerning the Corporate Debtor Company viz., Jaypee Infratech Limited, 'JIL' for short; also referred to as 'the corporate debtor'. seeking avoidance of certain transactions, whereby the corporate debtor had mortgaged its properties as collateral securities for the loans and advances made by the lender banks and financial institutions to Jaiprakash Associates Limited , 'JAL' for short. the holding company of JIL, as being preferential, undervalued and fraudulent, in terms of Sections 43, 45 and 66 of the Insolvency and Bankruptcy Code, 2016, Hereinafter also referred to as 'the Code' or 'IBC'..
(2.) Before proceeding further, we may draw up a brief outline of the subject- matter and the issues involved in these appeals.
(3.) In view of the issues arising for determination in these appeals, with several parties carrying different roles, status and interests, worthwhile it would be to narrate at the outset, in brief, the relevant particulars of the key parties involved as follows:
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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