https://www.taxtmi.com/caselaws?id=292719 A SARFAESI sale and transfer of possession do not keep secured assets outside insolvency control unless completion is conclusively established before the moratorium. On the facts, the Howrah and Bankura properties were not shown to have been validly transferred before the moratorium, and the insolvency code prevailed over inconsistent enforcement steps. The assets were therefore brought back into the liquidation estate. With the CIRP period expired, no resolution plan received, and no approved extension in place, liquidation followed as the statutory consequence, and an independent liquidator was appointed for further administration. en-us Tue, 25 Feb 2020 00:00:00 +0530 Tue, 05 Jan 2021 20:42:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292719 A SARFAESI sale and transfer of possession do not keep secured assets outside insolvency control unless completion is conclusively established before the moratorium. On the facts, the Howrah and Bankura properties were not shown to have been validly transferred before the moratorium, and the insolvency code prevailed over inconsistent enforcement steps. The assets were therefore brought back into the liquidation estate. With the CIRP period expired, no resolution plan received, and no approved extension in place, liquidation followed as the statutory consequence, and an independent liquidator was appointed for further administration. Case-Laws Insolvency and Bankruptcy Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292719