SC reverses NCLAT order, restores claims of 4 lenders of Reliance Infratel

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SC reverses NCLAT order, restores claims of 4 lenders of Reliance Infratel - Business Standard

Quick Summary:

It stated that the only parties to the DoH were the chargors and the security trustee.“The only object of the DoH was to create a charge on the property of the chargors.

Another issue that arose, in the event the appellants were not considered ‘financial creditors,’ was whether they could be classified as ‘secured creditors’ and be paid commensurate to their security interest.

Therefore, whether the cause of action for invoking the guarantee has arisen or not is not relevant for considering the definition of ‘claim’,” the court held.