https://www.taxtmi.com/caselaws?id=400271 A secured creditor's enforcement under SARFAESI continues against secured assets of a company in liquidation, and the company court need not intervene in that process. The statutory scheme preserves the Official Liquidator's role to protect workmen's dues under Section 529-A of the Companies Act, 1956, while allowing the secured creditor to proceed with auction and sale under the SARFAESI mechanism. If the liquidator has a grievance, the prescribed remedy lies within Sections 17 and 18 of SARFAESI. The text therefore states that the applicant could continue with the auction process subject to the statutory protection of workmen's claims. en-us Mon, 26 Oct 2020 00:00:00 +0530 Sat, 31 Oct 2020 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400271 A secured creditor's enforcement under SARFAESI continues against secured assets of a company in liquidation, and the company court need not intervene in that process. The statutory scheme preserves the Official Liquidator's role to protect workmen's dues under Section 529-A of the Companies Act, 1956, while allowing the secured creditor to proceed with auction and sale under the SARFAESI mechanism. If the liquidator has a grievance, the prescribed remedy lies within Sections 17 and 18 of SARFAESI. The text therefore states that the applicant could continue with the auction process subject to the statutory protection of workmen's claims. Case-Laws Companies Law Mon, 26 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400271