Yamuna Expressway Industrial ... vs Monitoring Committee Of Jaypee ... on 24 May, 2024
56. The above judgment was not a case where question of security
interest by an operational creditor came for consideration. Present is a case
where the appellant is claiming secured creditor of the corporate debtor in
reference to additional farmers' compensation. We, thus, are of the view
that the judgment of the "New Okhla Industrial Development Authority
Versus Anand Sonbhadra" (supra) is not applicable in the facts of the
present case. Adjudicating Authority failed to notice the provision of Section
13 and 13-A and considered of the claim of the appellant was only as
operational creditor. Appellant being secured operational creditor, it is
entitled for a different treatment in the resolution plan which is meted out
to the other secured creditors.