https://www.taxtmi.com/article/detailed?id=6439 The official liquidator lacks jurisdiction to adjudicate claims of a secured creditor who elects to stand outside liquidation and pursue statutory remedies; secured creditors retain enforcement rights subject to a pari passu charge in favour of workmen, the liquidator may represent and realise the workmen's portion, and the company court may impose conditions to protect workmen while preserving the secured status of the creditor. Disputes should be resolved by appropriate civil proceedings rather than by the liquidator assuming adjudicatory jurisdiction. en-us Mon, 14 Sep 2015 06:46:49 +0530 Mon, 14 Sep 2015 06:46:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6439 The official liquidator lacks jurisdiction to adjudicate claims of a secured creditor who elects to stand outside liquidation and pursue statutory remedies; secured creditors retain enforcement rights subject to a pari passu charge in favour of workmen, the liquidator may represent and realise the workmen's portion, and the company court may impose conditions to protect workmen while preserving the secured status of the creditor. Disputes should be resolved by appropriate civil proceedings rather than by the liquidator assuming adjudicatory jurisdiction. Articles Corporate Laws / IBC / SEBI Mon, 14 Sep 2015 06:46:49 +0530 https://www.taxtmi.com/article/detailed?id=6439