https://www.taxtmi.com/caselaws?id=399938 A security interest in liquidation must be proved through the methods recognised by the Insolvency and Bankruptcy Code and the liquidation regulations, including records of an information utility, registration of charge with the Registrar of Companies, or registration with CERSAI. A charge not duly registered under the Companies Act cannot be taken into account by the liquidator or other creditors, and failure to use the statutory registration and rectification mechanism leaves the claimed security unenforceable. An entry recording hypothecation under the Motor Vehicles Act is only part of the vehicle registration record and does not replace statutory charge registration for liquidation purposes. The claimed creditor status as secured financial creditor was therefore unavailable. en-us Mon, 19 Oct 2020 00:00:00 +0530 Fri, 23 Oct 2020 15:01:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399938 A security interest in liquidation must be proved through the methods recognised by the Insolvency and Bankruptcy Code and the liquidation regulations, including records of an information utility, registration of charge with the Registrar of Companies, or registration with CERSAI. A charge not duly registered under the Companies Act cannot be taken into account by the liquidator or other creditors, and failure to use the statutory registration and rectification mechanism leaves the claimed security unenforceable. An entry recording hypothecation under the Motor Vehicles Act is only part of the vehicle registration record and does not replace statutory charge registration for liquidation purposes. The claimed creditor status as secured financial creditor was therefore unavailable. Case-Laws Insolvency and Bankruptcy Mon, 19 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399938