https://www.taxtmi.com/caselaws?id=448433 A later construction finance facility was treated as a fresh loan, not a restructuring of the earlier secured loan, because the sanction letter did not describe it as a continuation, the two accounts were separate, and the later disbursal was recorded as repayment. The earlier tripartite agreement and NOC were confined to the first facility, and the record showed no fresh NOC or charge registration for the second loan. On those facts, the earlier security arrangement did not extend to the later facility, and the retained security interest could not be claimed over the secured assets on that basis. en-us Wed, 17 Jan 2024 00:00:00 +0530 Fri, 19 Jan 2024 08:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448433 A later construction finance facility was treated as a fresh loan, not a restructuring of the earlier secured loan, because the sanction letter did not describe it as a continuation, the two accounts were separate, and the later disbursal was recorded as repayment. The earlier tripartite agreement and NOC were confined to the first facility, and the record showed no fresh NOC or charge registration for the second loan. On those facts, the earlier security arrangement did not extend to the later facility, and the retained security interest could not be claimed over the secured assets on that basis. Case-Laws Insolvency and Bankruptcy Wed, 17 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448433