Non-Obtaining Of NOC From Applicant Does Not Invalidate Documents of Hypothecation & Mortgage Executed In Favour of Bank of Baroda: NCLT

The National Company Law Tribunal (NCLT) has ruled that the non-obtaining of a No Objection Certificate (NOC) from the applicant does not invalidate documents of hypothecation or mortgage executed in favor of the Bank of Baroda. This decision upholds the validity of financial agreements and provides clarity on banking practices.