https://www.taxtmi.com/caselaws?id=112810 A secured creditor's enforcement rights under the SARFAESI Act continue even after a company enters liquidation, but those rights must be exercised subject to the leave and control of the Company Court. Once a winding-up order is made and the Official Liquidator is in charge of the assets, any action affecting those assets must be coordinated with the liquidation process and carried out on terms fixed by the Court. The sale should therefore be conducted with the Official Liquidator's cooperation, proper publicity and valuation, and remain subject to court confirmation. The SARFAESI framework does not override the Companies Act, 1956 in this context. en-us Thu, 19 Feb 2009 00:00:00 +0530 Tue, 01 May 2012 18:17:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112810 A secured creditor's enforcement rights under the SARFAESI Act continue even after a company enters liquidation, but those rights must be exercised subject to the leave and control of the Company Court. Once a winding-up order is made and the Official Liquidator is in charge of the assets, any action affecting those assets must be coordinated with the liquidation process and carried out on terms fixed by the Court. The sale should therefore be conducted with the Official Liquidator's cooperation, proper publicity and valuation, and remain subject to court confirmation. The SARFAESI framework does not override the Companies Act, 1956 in this context. Case-Laws Companies Law Thu, 19 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112810