Failure to prove Security Interest created in Assets of Corporate Debtor in Favor of PMC Bank: NCLAT upholds approval of Resolution Plan [Read Order]
The NCLAT confirmed the resolution plan passed by the adjudicating authority due to failure to prove security interest created in assets of the corporate debtor in favor of PMC Bank
By Aparna. M - On April 27, 2024 6:02 pm - 2 mins read
The Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) while upholding the resolution plan passed by the adjudicating authority observed that there was a failure to prove security interest created in assets of the corporate debtor in favor of PMC Bank . The present appeal was filed by the Financial Creditor…
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