Charge registered with CERSAI to be treated as secured Financial Creditor

Bizloan Private Limited Vs Amit Chandrashekhar Poddar (NCLAT Delhi) NCLAT Delhi held that appellant to be treated as secured Financial Creditor based on the registered charge with CERSAI in accordance with Regulation 21 of the IBBI (Liquidation Process) Regulations, 2016. Accordingly, appeal allowed and order set aside. Facts- The present appeal has been filed by Bizloan Private Limited who is the Financial Creditor for providing credit facilities in form of sales bill discounting (SBD) and purchase bill discounting (PBD) of Rs. 1 Crore in aggregate to the Autocop (India) Private Limited i.e....