https://www.taxtmi.com/caselaws?id=396753 A dissenting secured creditor cannot prevent liquidation sale merely by refusing to relinquish security interest where the liquidation estate is governed by the collective insolvency framework and the other secured creditors have relinquished their interests. The tribunal held that, in the absence of proof of an exclusive or superior charge over the secured assets, one secured creditor cannot insist on individual realisation in a manner that defeats the liquidation process or the relinquishment decision of the majority. The liquidation sale could therefore proceed, and the process was directed to be completed in accordance with law. en-us Thu, 18 Jun 2020 00:00:00 +0530 Sat, 18 Jul 2020 09:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396753 A dissenting secured creditor cannot prevent liquidation sale merely by refusing to relinquish security interest where the liquidation estate is governed by the collective insolvency framework and the other secured creditors have relinquished their interests. The tribunal held that, in the absence of proof of an exclusive or superior charge over the secured assets, one secured creditor cannot insist on individual realisation in a manner that defeats the liquidation process or the relinquishment decision of the majority. The liquidation sale could therefore proceed, and the process was directed to be completed in accordance with law. Case-Laws Insolvency and Bankruptcy Thu, 18 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396753