Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Non-Registration Of “Charge” U/S 77 Of Companies Act Does Not Bar Creditor From Being Treated As “Secured Creditor” Under IBC During CIRP: NCLAT
Insolvency & Bankruptcy CodeOther Legal Matters
The NCLAT held that non-registration of a charge under Section 77 of the Companies Act does not bar a creditor from being treated as a secured creditor under the IBC during CIRP. This clarifies the interplay between the Companies Act and the IBC regarding secured creditors. It protects the rights of creditors even if there are technical lapses in registration.
