The dispute was about the distribution of assets of M/s. Essen Computers Ltd., a company in liquidation. Kotak Mahindra Bank Ltd. had become a secured creditor in 2004. The Official Liquidator filed a report for disbursement of the amount realised from the sale of assets among secured and unsecured creditors. Essen Finance & Investments Ltd. and its Director, Mr. Apurva J. Parekh, also claimed to be secured creditors. The court heard appeals and cross-objections related to this matter.