Justice M. Venugopal, Member (Judicial): Preamble: The Appellant has filed the instant Company Appeal (AT) (CH) (Ins) No.

277/2023, being ‘aggrieved’, in respect of the `Order’ dated 14.06.2023, in IA(IBC)/887(CHE)/2022 in CP(IB)/785(CHE)/2019, passed by the `Adjudicating Authority’ / `National Company Law Tribunal’, Division Bench II, Chennai.

2. The `Adjudicating Authority’/`NCLT’, Division Bench II, Chennai, while passing the `Impugned Order’ in IA(IBC)/887(CHE)/2022 in CP(IB)/785(CHE)/2019 (filed under Section 60(5) of the I & B Code, 2016, r/w Rule 11 of NCLT Rules, 2016) at paragraph Nos. 17 and 18, had observed the following: -

“17. In short, the effect of non-registration would not vitiate the recovery of the debt, however by the language of Section 77(3) of the Companies Act, 2013 as amended post the introduction of the Code read with Section 52 of the Code and Regulation 21 of the IBBI (Liquidation Process) Regulations, 2016, the security interest created becomes void against the Liquidator.

The decision of case ICICI Bank Ltd. Vs. SIDCO Leathers Limited & Others [MANU/SC/2337/2006] relied upon by the Appl