https://www.taxtmi.com/caselaws?id=198716 The securitisation statute was treated as a special enforcement regime with overriding effect, allowing a secured creditor to proceed against secured assets despite winding up proceedings and without leave of the Company Court. The statutory scheme was read as operating in addition to other enactments while preserving workmen's dues, so the bank's enforcement action under the demand-and-sale process remained available. The challenge that part of the property lacked registered charge was not accepted as a basis to defeat enforcement; the Court treated the security as having been created by equitable mortgage and held that objections to charge registration or the existence of security had to be pursued before the appropriate statutory forum. en-us Mon, 08 Aug 2005 00:00:00 +0530 Wed, 07 Feb 2018 18:06:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198716 The securitisation statute was treated as a special enforcement regime with overriding effect, allowing a secured creditor to proceed against secured assets despite winding up proceedings and without leave of the Company Court. The statutory scheme was read as operating in addition to other enactments while preserving workmen's dues, so the bank's enforcement action under the demand-and-sale process remained available. The challenge that part of the property lacked registered charge was not accepted as a basis to defeat enforcement; the Court treated the security as having been created by equitable mortgage and held that objections to charge registration or the existence of security had to be pursued before the appropriate statutory forum. Case-Laws Companies Law Mon, 08 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198716