https://www.taxtmi.com/caselaws?id=109434 Secured creditors may invoke the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 notwithstanding the appointment of a Provisional Liquidator, because the statute was treated as having overriding effect and the pendency of company proceedings did not itself bar recourse to the secured recovery mechanism, subject to statutory compliance including section 13(9). Sale of secured assets in the liquidation context, however, remained under the Company Court's supervisory control, so prior permission was required before sale was completed. Workers' claims and statutory dues were preserved for consideration at the stage of sale confirmation. en-us Wed, 15 Oct 2003 00:00:00 +0530 Tue, 10 Apr 2012 11:45:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109434 Secured creditors may invoke the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 notwithstanding the appointment of a Provisional Liquidator, because the statute was treated as having overriding effect and the pendency of company proceedings did not itself bar recourse to the secured recovery mechanism, subject to statutory compliance including section 13(9). Sale of secured assets in the liquidation context, however, remained under the Company Court's supervisory control, so prior permission was required before sale was completed. Workers' claims and statutory dues were preserved for consideration at the stage of sale confirmation. Case-Laws Companies Law Wed, 15 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109434