Section 62 of the IBC states that ‘any person’ aggrieved by an order of NCLAT may file an appeal before the Supreme Court. Which of the following is included in the phrase ‘any person’?
In Glas Trust Company LLC v Byju Raveendran 2024, INSC 811 the Supreme Court held that use of the phrase ‘any person’ means that there is no rigid locus requirement under Section 62. Once CIRP is initiated it is no longer confined to individual creditor applicant and corporate debtor. Instead, it becomes a collective proceeding, a proceeding in rem where all creditors are stakeholders. Only a party ‘unrelated to CIRP’ maybe prevented from filing an appeal.