The National Company Law Tribunal (NCLT) has ruled in favor of Punjab National Bank (PNB), directing the Resolution Professional (RP) of Arshiya Limited to recognize PNB as a secured financial creditor. The NCLT overturned the RP's reclassification of PNB as an unsecured creditor, stating the RP exceeded their authority. PNB had challenged the reclassification, which occurred during a Committee of Creditors meeting, asserting its claim was secured by a share pledge and corporate guarantee related to loans extended to Arshiya's subsidiary.