https://www.taxtmi.com/caselaws?id=197486 A secured debt remained enforceable where the movable assets intended as security were described with sufficient certainty, constructive delivery was treated as adequate for pledge, and items such as receivables or uncalled capital could validly be charged even if not strictly pledged. A part-payment operated as an acknowledgment of the secured liability and extended limitation for both the personal claim and enforcement of the security; limitation also stopped running after the winding-up order under the Banking Regulation Act. The court held that its jurisdiction was not excluded because no immovable property formed the subject-matter of the security. The bank was entitled to recover against the company and identifiable secured assets, subject to rendition of accounts by the creditor. en-us Tue, 25 Jan 1983 00:00:00 +0530 Mon, 08 Jan 2018 17:37:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197486 A secured debt remained enforceable where the movable assets intended as security were described with sufficient certainty, constructive delivery was treated as adequate for pledge, and items such as receivables or uncalled capital could validly be charged even if not strictly pledged. A part-payment operated as an acknowledgment of the secured liability and extended limitation for both the personal claim and enforcement of the security; limitation also stopped running after the winding-up order under the Banking Regulation Act. The court held that its jurisdiction was not excluded because no immovable property formed the subject-matter of the security. The bank was entitled to recover against the company and identifiable secured assets, subject to rendition of accounts by the creditor. Case-Laws Companies Law Tue, 25 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197486