Bank Did Not Relinquish Security as Voting at First Creditors’ Meeting Was Insufficient: NCLT

Kotak Mahindra Bank Limited Vs Anil Kashi Drolia (NCLT Mumbai) The National Company Law Tribunal (NCLT), Mumbai Bench, allowed the application filed by Kotak Mahindra Bank Limited and dismissed the application filed by the Company Liquidator, holding that the Bank had not relinquished or surrendered its security interest merely by participating in the first meeting of creditors during the winding-up proceedings. The company was ordered to be wound up on 12 January 2026, and a Company Liquidator was appointed on 2 February 2026. Pursuant to the winding-up order, the Liquidator invited proof of ...