Charge Was Not Registered u/s 77 Of The CA 2013 In Favour Of Secured Creditor
Last updated: 02 December 2022
Court :
NCLAT
Brief :
NCLAT observed from the documentary evidence on record that no 'Charge' has been registered under Section 77(1) of the Companies Act, 2013 and Appellant 'Claim' was notsupported by the provisions under Regulation 21 of Insolvency and Bankruptcy Board of India(IBBI) (Liquidation Process) Regulation, 2016. Further, the contentions of the Appellant thatRegistration with Motor Vehicle Authority under Section 51 of the Motor Vehicles Act, 1988would suffice, cannot be sustained.
Citation :
Volkswagen Finance Private Limited (Appellant) vs.Shree Balaji Printopack Pvt. Ltd & Ors.(Respondents). Dated: 19.10.2020 [NCLAT].
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FCS Deepak Pratap Singh
Published in Corporate Law
Views : 248
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