https://www.taxtmi.com/caselaws?id=372918 A corporate debtor's mortgaged property, if still reflected as an asset in its books, may be brought under the Resolution Professional's control even when a secured creditor has already taken possession under SARFAESI. The commentary explains that possession alone does not transfer title, so the Resolution Professional's duty to take custody of assets recorded as belonging to the corporate debtor continues after insolvency commencement. It also states that the moratorium covers enforcement-related steps, including foreclosure, recovery, and other actions under SARFAESI, preventing the secured creditor from resisting handover of the asset to the insolvency process. en-us Thu, 11 Oct 2018 00:00:00 +0530 Thu, 03 Jan 2019 08:05:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372918 A corporate debtor's mortgaged property, if still reflected as an asset in its books, may be brought under the Resolution Professional's control even when a secured creditor has already taken possession under SARFAESI. The commentary explains that possession alone does not transfer title, so the Resolution Professional's duty to take custody of assets recorded as belonging to the corporate debtor continues after insolvency commencement. It also states that the moratorium covers enforcement-related steps, including foreclosure, recovery, and other actions under SARFAESI, preventing the secured creditor from resisting handover of the asset to the insolvency process. Case-Laws Insolvency and Bankruptcy Thu, 11 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372918