Creditors enjoying security interest not treatable higher than other creditors

Trimurti Associates Private Limited Vs BKM Industries Limited (NCLT Kolkata) NCLT Kolkata held that just because a creditor enjoys security interest, it cannot be treated higher than other creditors who have financed the Corporate Debtor. Facts- The Applicant ICICI Bank is a secured Financial Creditor of BKM Industries Limited. Pursuant to the admission of the Corporate Debtor into Corporate Insolvency Resolution Process, the Applicant submitted its claim for an amount of Rs.15.52Crore with the Interim Resolution Professional on 14 January 2021. The claim was admitted. It is further submitted ...