Mortgagee Bank cannot Seek Exclusion of Property from Resolution Plan Approved by Unit Holders Having Conveyance Deeds: NCLAT Dismisses Appeal of HDFC [Read Order]

It opined that the Adjudicating Authority rightly held that the Appellant bank has no locus to object to the approved resolution plan
By Yogitha S. Yogesh - On April 16, 2025 5:43 pm - 2 mins read
NCLAT ruling - HDFC appeal dismissed - Mortgage rights India - taxscan

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench, while dismissing the appeal of HDFC Bank, has held that the bank in whose favor mortgage rights were created over the property of the Corporate Debtor cannot seek exclusion of the property from the Resolution Plan, especially when the unit holders, possessing either a conveyance…

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