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of <h1>Secured Creditors' Rights in Liquidation: Section 52 of Insolvency and Bankruptcy Code Explains Options and Procedures.</h1> Section 52 of the Insolvency and Bankruptcy Code, 2016, outlines the rights and procedures for secured creditors during liquidation proceedings. A secured creditor can choose to either relinquish their security interest to the liquidation estate and receive sale proceeds or realize their security interest independently. If opting for the latter, they must inform the liquidator and identify the asset. The liquidator verifies the security interest before allowing realization. Any surplus from asset enforcement must be accounted for and transferred to the liquidator. Costs associated with the insolvency resolution process are deducted from the proceeds, and any shortfall in debt repayment is addressed by the liquidator.
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