https://www.taxtmi.com/caselaws?id=772347 Deposit of title deeds creates a mortgage only where the surrounding documents and conduct clearly show an intention to create security; on the facts, that intent was absent, so secured creditor status was rejected while the financial creditor status remained undisturbed. An agreed 18% interest rate on the admitted financial claim was upheld because the underlying transaction was treated as a financial debt and the repayment understanding supported interest. Adverse restriction of one creditor's claim and adverse comments on another's claim were set aside because they were made without hearing the affected parties, violating natural justice. The replacement of the resolution professional and the forensic audit direction were also set aside for lack of sufficient basis. en-us Fri, 30 May 2025 00:00:00 +0530 Sat, 07 Jun 2025 08:32:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772347 Deposit of title deeds creates a mortgage only where the surrounding documents and conduct clearly show an intention to create security; on the facts, that intent was absent, so secured creditor status was rejected while the financial creditor status remained undisturbed. An agreed 18% interest rate on the admitted financial claim was upheld because the underlying transaction was treated as a financial debt and the repayment understanding supported interest. Adverse restriction of one creditor's claim and adverse comments on another's claim were set aside because they were made without hearing the affected parties, violating natural justice. The replacement of the resolution professional and the forensic audit direction were also set aside for lack of sufficient basis. Case-Laws IBC Fri, 30 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772347