Claim on Goods not in Possession of Port Authority cannot be treated as Secured Creditor under IBC: NCLAT

Claim on Goods not in Possession of Port Authority cannot be Treated as Secured Creditor under IBC, rules NCLAT
NCLAT Chennai - National Company Law Appellate Tribunal - Port Authority - Secured Creditor - Port Authority Creditors - taxscan

The Chennai Bench of the National Company Law Appellate Tribunal ( NCLAT ) ruled that the claim on goods not in possession of port authority cannot be treated as secured creditor under the Insolvency and Bankruptcy Code, 2016 ( IBC ). The appeal is directed against the order by which an application filed under Section…

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