https://www.taxtmi.com/caselaws?id=366861 A secured creditor may enforce security over identified company assets in liquidation under SARFAESI if statutory notices are served, lawful possession is obtained, and the Official Liquidator is associated to verify the secured asset and protect creditor interests. Where assets are not subject to the creditor's security, the Official Liquidator must take possession, sell them, and distribute the proceeds under the Companies Act, 1956, including due regard to workmen's and other secured creditors' claims. The secured creditor was permitted to proceed against the secured assets, while the remaining assets were left to be administered through the winding up process. en-us Fri, 10 Aug 2018 00:00:00 +0530 Wed, 12 Sep 2018 09:43:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366861 A secured creditor may enforce security over identified company assets in liquidation under SARFAESI if statutory notices are served, lawful possession is obtained, and the Official Liquidator is associated to verify the secured asset and protect creditor interests. Where assets are not subject to the creditor's security, the Official Liquidator must take possession, sell them, and distribute the proceeds under the Companies Act, 1956, including due regard to workmen's and other secured creditors' claims. The secured creditor was permitted to proceed against the secured assets, while the remaining assets were left to be administered through the winding up process. Case-Laws Companies Law Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366861