Drip Capital Inc. & Anr. ...Respondents Present: For Appellant : Mr. Puneet Jain Sr. Advocate with Ms. Christi Jain, Mr. Harsh Jain, Mr. Siddharth Jain and Mr. B.M. Maheshwari, Advocates. For Respondents : Mr. Chandrashekhar A. Chakalabbi and Mr. Jatin Kumar, Advocates. JUDGMENT ASHOK BHUSHAN, J. This appeal by a suspended director of the corporate debtor, Eco Gold Nutri & Organics LLP has been filed, challenging the order dated 17.06.2025 passed by the adjudicating authority (National Company Law Tribunal (NCLT), Special Bench at Indore) admitting Section 7 application filed by the financial creditor Drip Capital INC. 2. Brief facts of the case giving rise to the appeal are: i. The corporate debtor Eco Gold Nutri & Organics LLP is engaged in the business of the Soyabean, its factory being situated in district Indore, Madhya Pradesh. The corporate debtor had engaged in export of its product. ii. The respondent Drip Capital INC is a company registered at United States of America, has been providing export financing. iii. The corporate debtor and financial creditor (hereinafter referred to as 'Factor') entered into Receivable Purchase Factoring Agreement dated 04.04.2019 for availing factoring facilities by corporate debtor from respondent. iv. Receivable under the invoices issued by corporate debtor to different entities were to be purchased by factor and factor was to pay the corporate debtor and receive the payment from debtors. v. On the same day, on which date Receivable Purchase/Factoring Agreement dated 04.04.2019 was entered between the parties. Indemnity agreement was also entered on 04.04.2019. Letter dated 04.04.2019 was issued by the corporate debtor to the Drip Capital "ref. irrevocable undertaking for which recourse factoring of receivable". vi. Another Agreement referred as Collateral Management Agreement was entered between parties on 04.04.2019. On 04.04.2019, corporate debtor also instituted in favour of the financial creditor a demand promissory note, unconditionally undertook and promise to pay against the order of demand sum not existing US dollar 14,00,000/ or local currency equivalent together with interest from the rate of demand. Comp. App. (AT) (Ins.) No. 1291 of 2025 2 of 27 vii. Corporate debtor issued six invoices on CapRock Grain between 14.02.2023 to 02.05.2023 vide separate purchase request from Deed of Assignment. Corporate debtor assigned in favour of the financial creditor all six invoices which were payable by CapRock Grain (account holder to the financial creditor). viii. Corporate debtor also deposited the original bill of landing with financial creditor. The financial creditor paid an aggregate amount of US $ 8,42,52,000 to corporate debtor towards assignment of six invoices. The said invoices were payable by CapRock Grain to the financial creditor. CapRock Grain failed to pay the financial creditor on respective invoices due dates which were between 24.05.2023 to 07.06.2023. ix. On 20.06.2023, corporate debtor assured the financial creditor that payment towards the outstanding amount shall be made. Corporate debtor sought release of bill of landing. On 20.06.2023 corporate debtor executed a deed of undertaking in favour of the financial creditor, acknowledging its liability to pay the entire outstanding amount, in case the debtor (account holder) failed to pay entire outstanding amount. x. Corporate debtor made a part payment of US $ 4,74,920/ in favour of the financial creditor. Account holder failed to pay the outstanding. Financial creditor sent emails communication to the corporate debtor demanding the payment of balance outstanding amount. Comp. App. (AT