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(ix) A security interest was created in favour of consortium towards CC-

18 project specific assets being first ranking pari pasu charge over all the moveable fixed assets of FEMC Pratibha and/ or the project both present and future; first ranking pari passu charge over all current assets of the borrower and/or the Project both present and future; first ranking pari passu charge over all the bank accounts of FEMC Pratibha and/or the Project including but not limited to Company Appeal (AT) (Insolvency) No.330 of 2023 the Escrow Account opened or to be opened with the lead bank. Guarantee was also given by the Corporate Debtor and Personal Guarantor. Corporate Debtor has also obtained loan facility from consortium of lenders for CC-23 project and subsequently security interests were created. CC-18 and CC-23 Project came to be completed on 31.03.2018 and 31.05.2018, respectively.

13. The Adjudicating Authority in the impugned order has noted the First Supplementary Agreement and Third Supplementary Agreement. The Adjudicating Authority has also further held that Yes Bank having failed to comply with Sub-regulation (2) of Regulation 21A of the Liquidation Company Appeal (AT) (Insolvency) No.330 of 2023 Regulation, secured assets became part of the liquidation assets. In Para 71, 72 and 73 following has been held:

"71. We consider in terms of the Working Capital Consortium Agreement (WCCA), the Applicant inter alia have first ranking pari passu charge over all (1) movable fixed assets of Respondent No. 2 and/or CC-18 Project, both present and future, (ii). current assets of Respondent No. 2 and/or the CC-18 Project, both present and future, and (iii) all bank accounts of Respondent No. 2 including but not limited to the accounts opened for the CC-18 Project, we note that this security was not relinquished in terms of Section 52 of the Code, the Applicant has failed to comply with sub-regulation (2) of Regulation 21A of the Liquidation Regulations, under which the Applicant was required to make payments in terms of clause (a) of sub-section (1) and sub-clause (i) of clause (b) of Section 53 of the Code.
1) FEMC Pratibha CC18: On Project Specific facilities (1) Pari passu charge on project specific current assets and project specific bank accounts.
2) Tunnel Boring Machine: Exclusive charge on tunnel boring machine
3) E-10 Delhi property: Exclusive charge on E-10, Defence colony, New Delhi along with servant quarter and two parking space.
4) B-85 First Floor property: Exclusive charge on first floor of B-85, defence colony As you opted to realise your security interest on your own, in terms of sub-regulation (2) of Regulatio 21A of the Liquidation Regulations, you were required to pay as much towards the amount payable under clause (a) and sub-clause (i) of clause (b) of the sub-