https://www.taxtmi.com/caselaws?id=196298 Prior contractual security rights over project assets and receivables cannot be diluted by a proposed corporate debt restructuring package without the secured lender's consent. Where loan, hypothecation and escrow arrangements grant an exclusive charge, a restructuring proposal cannot compel sharing of that security, pooling of receivables into a common account, or acceptance of additional funding terms that alter the lender's bargain. The interim restraint against further encumbrance was maintained, and the plaintiff's pre-existing security over the specified assets remained protected. The restructuring could proceed only outside the plaintiff's secured interest, preserving the contractual protections already created. en-us Wed, 30 Jul 2014 00:00:00 +0530 Fri, 24 Nov 2017 21:26:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196298 Prior contractual security rights over project assets and receivables cannot be diluted by a proposed corporate debt restructuring package without the secured lender's consent. Where loan, hypothecation and escrow arrangements grant an exclusive charge, a restructuring proposal cannot compel sharing of that security, pooling of receivables into a common account, or acceptance of additional funding terms that alter the lender's bargain. The interim restraint against further encumbrance was maintained, and the plaintiff's pre-existing security over the specified assets remained protected. The restructuring could proceed only outside the plaintiff's secured interest, preserving the contractual protections already created. Case-Laws Indian Laws Wed, 30 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196298