The National Company Law Appellate Tribunal (NCLAT), New Delhi, comprising Justice Rakesh Kumar Jain (Member-Judicial) and Mr. Naresh Salecha (Member-Technical), has held that in the absence of the charge, the income tax department cannot be considered as a secured creditor. The financial creditor, M/s Prutha Enterprises, filed a section 7 application before the adjudicating...
