https://www.taxtmi.com/caselaws?id=196399 A secured creditor or its assignee may enforce security under the SARFAESI Act during winding up, but that right must be harmonised with the Companies Act rather than treated as overriding it. The company court and official liquidator retain supervisory protection over sale transparency, liquidation expenses, and workmen's dues under the pari passu framework. Where sale steps have already begun under company court directions, the existing process cannot be ignored entirely, and any surplus from the sale must be accounted for through the liquidation process rather than appropriated unilaterally. en-us Fri, 20 Mar 2009 00:00:00 +0530 Wed, 07 Feb 2018 17:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196399 A secured creditor or its assignee may enforce security under the SARFAESI Act during winding up, but that right must be harmonised with the Companies Act rather than treated as overriding it. The company court and official liquidator retain supervisory protection over sale transparency, liquidation expenses, and workmen's dues under the pari passu framework. Where sale steps have already begun under company court directions, the existing process cannot be ignored entirely, and any surplus from the sale must be accounted for through the liquidation process rather than appropriated unilaterally. Case-Laws Indian Laws Fri, 20 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196399