Section 3(31) of IBC does not refer to any registration of charge under Section 77 of the Companies Act, 2013 – Unity Small Finance Bank Ltd. Vs. Sripatham Venkatasubramanian Ramkumar RP for Privilege Industries Ltd. – NCLAT New Delhi

Hon’ble NCLAT held that it is true that Section 3(31) does not refer to any registration of charge under Section 77. I n Paschimanchal Vidyut Vitran Nigam Ltd. vs. Raman Ispat Pvt. Ltd. (2023) ibclaw.in 81 SC, Hon’ble Supreme Court did not consider it appropriate to rule on the submissions of the Liquidator, vis-à-vis the fact of non-registration of charges under Section 77 of the Companies Act. The question was thus left open.

Section 3(31) of IBC does not refer to any registration of charge under Section 77 of the Companies Act, 2013 – Unity Small Finance Bank Ltd. Vs. Sripatham Venkatasubramanian Ramkumar RP for Privilege Industries Ltd. – NCLAT New Delhi Read Post »