https://www.taxtmi.com/caselaws?id=330168 Where a secured creditor or its assignee has validly initiated action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 before a winding up order, the company court should not interfere with realisation of the mortgaged assets outside the winding up proceedings. At the same time, Section 13(9) preserves protection for workers' dues, so the official liquidator must be associated with the sale process as the workers' representative and informed in advance. The secured creditor or assignee may therefore proceed with the sale outside winding up, subject to that participation of the official liquidator. en-us Fri, 12 Feb 2016 00:00:00 +0530 Tue, 19 Jul 2016 13:09:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330168 Where a secured creditor or its assignee has validly initiated action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 before a winding up order, the company court should not interfere with realisation of the mortgaged assets outside the winding up proceedings. At the same time, Section 13(9) preserves protection for workers' dues, so the official liquidator must be associated with the sale process as the workers' representative and informed in advance. The secured creditor or assignee may therefore proceed with the sale outside winding up, subject to that participation of the official liquidator. Case-Laws Companies Law Fri, 12 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330168