Non-Obtaining Of NOC From Applicant Does Not Invalidate Documents of Hypothecation & Mortgage Executed In Favour of Bank of Baroda: NCLT [Read Order]
It was concluded that classification of the claims of the respondents was valid and proper as no document based on which they claimed the status were declared void
The Mumbai Bench of the National Company Law Tribunal(NCLT) held that non-obtaining of Non Objection Certificate(NOC) from the Applicant does not invalidate the security documents of hypothecation and mortgage executed in favour of Bank of Baroda. Bank of Baroda , the applicant an application under section 60(5) of the Insolvency and Bankruptcy Code (IBC) was…
Your free access to Taxscan has Expired
To read the article, get a premium account.
Taxscan Premium
Why should you subscribe?
Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc