https://www.taxtmi.com/caselaws?id=114065 The High Court upheld the order of the Single Judge, dismissing the writ application challenging the BIFR's declaration of proceedings abated under SICA and the actions of secured creditors under the Securitisation Act. The Court found that secured creditors can invoke the Securitisation Act even during BIFR proceedings, especially when a substantial amount is due. The Court noted that the banks were the sole secured creditors and had invoked the full amount of the secured loan, leading to the dismissal of the appeal. en-us Fri, 12 Oct 2007 00:00:00 +0530 Sun, 21 Dec 2014 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114065 The High Court upheld the order of the Single Judge, dismissing the writ application challenging the BIFR's declaration of proceedings abated under SICA and the actions of secured creditors under the Securitisation Act. The Court found that secured creditors can invoke the Securitisation Act even during BIFR proceedings, especially when a substantial amount is due. The Court noted that the banks were the sole secured creditors and had invoked the full amount of the secured loan, leading to the dismissal of the appeal. Case-Laws Companies Law Fri, 12 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114065