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of <h1>Secured Creditors Can Enforce Security Independently or Relinquish to Liquidation Estate Under IBC Section 52.</h1> The Insolvency and Bankruptcy Code (IBC) provides secured creditors with the right to enforce their security outside the liquidation process, as outlined in Section 52. Secured creditors can either relinquish their security interest to the liquidation estate or enforce it independently. They must inform the liquidator of their decision, who will verify the security interest. If enforcement yields surplus proceeds, the creditor must account to the liquidator. Case laws highlight the intricacies of secured creditors' rights, including the necessity of informing the liquidator and the implications of creditor decisions on the liquidation process.
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