https://www.taxtmi.com/caselaws?id=247011 The court upheld the Official Liquidator's decision to focus solely on the principal amount for disbursement to secured creditors, despite the appellant's argument that the funded interest loan should also be considered a secured debt. The court found that accepting the funded interest as payable would disrupt the agreed-upon distribution ratio among creditors. The appellant was estopped from challenging the methodology previously agreed upon, leading to the dismissal of the appeal. en-us Wed, 23 Apr 2014 00:00:00 +0530 Fri, 25 Apr 2014 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247011 The court upheld the Official Liquidator's decision to focus solely on the principal amount for disbursement to secured creditors, despite the appellant's argument that the funded interest loan should also be considered a secured debt. The court found that accepting the funded interest as payable would disrupt the agreed-upon distribution ratio among creditors. The appellant was estopped from challenging the methodology previously agreed upon, leading to the dismissal of the appeal. Case-Laws Companies Law Wed, 23 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247011