HDFC Bank Ltd. filed an appeal against an order dated 07.03.2025, where the Adjudicating Authority rejected the objection filed by HDFC Bank (I.A. No. 3778 of 2022). HDFC Bank claimed to have a mortgage on units in Universal Business Park, specifically 8702 sq. ft. on the sixth floor, for which a conveyance deed was executed in favor of M/s Nayanika Holdings Pvt Ltd on 14.10.2015. The bank argued that since it held a mortgage on these units, they should be excluded from the resolution plan. The Adjudicating Authority had previously approved the resolution plan in 2021, and the matter was remitted to the Committee of Creditors. The Respondent argued that HDFC Bank lacked the locus standi to object to the plan. The court noted the absence of a Tripartite Agreement

HDFC Bank Ltd. filed an appeal against an order dated 07.03.2025, where the Adjudicating Authority rejected the objection filed by HDFC Bank (I.A. No. 3778 of 2022). HDFC Bank claimed to have a mortgage on units in Universal Business Park, specifically 8702 sq. ft. on the sixth floor, for which a conveyance deed was executed in favor of M/s Nayanika Holdings Pvt Ltd on 14.10.2015. The bank argued that since it held a mortgage on these units, they should be excluded from the resolution plan. The Adjudicating Authority had previously approved the resolution plan in 2021, and the matter was remitted to the Committee of Creditors. The Respondent argued that HDFC Bank lacked the locus standi to object to the plan. The court noted the absence of a Tripartite Agreement