https://www.taxtmi.com/caselaws?id=356529 A secured creditor that has not relinquished its security interest may enforce and realise the secured assets under the applicable enforcement law, and the liquidator cannot compel surrender of those assets or the escrow account during liquidation. The liquidator's powers under the Insolvency and Bankruptcy Code do not override a secured creditor's election to proceed outside the liquidation process, especially where enforcement has already been initiated under SARFAESI. The moratorium under the Code does not continue after liquidation begins, and the liquidation estate covers only assets in which security has been relinquished. The liquidator may still verify accounts and protect statutory priorities, including workmen's dues, but cannot displace the creditor's control over the secured assets. en-us Fri, 09 Feb 2018 00:00:00 +0530 Wed, 07 Mar 2018 08:04:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356529 A secured creditor that has not relinquished its security interest may enforce and realise the secured assets under the applicable enforcement law, and the liquidator cannot compel surrender of those assets or the escrow account during liquidation. The liquidator's powers under the Insolvency and Bankruptcy Code do not override a secured creditor's election to proceed outside the liquidation process, especially where enforcement has already been initiated under SARFAESI. The moratorium under the Code does not continue after liquidation begins, and the liquidation estate covers only assets in which security has been relinquished. The liquidator may still verify accounts and protect statutory priorities, including workmen's dues, but cannot displace the creditor's control over the secured assets. Case-Laws Insolvency and Bankruptcy Fri, 09 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356529