The National Company Law Tribunal, Kolkata Bench, while adjudicating an Application under Section 60(5) of Insolvency and Bankruptcy Code, 2016 (“IBC”) in ICICI Bank Limited Vs Mr. Pratim Bayal (Resolution Professional)& Anr has reiterated that just because a creditor enjoys security interest, it cannot be treated higher than other creditors who have financed the Corporate Debtor.
Tribunal clarified that such creditors are treated differently, then all secured creditors would dissent in the CoC.
