https://www.taxtmi.com/caselaws?id=407027 Amended liquidation regulations are prospective unless the text expressly provides retrospective effect, so Regulation 21A could not govern a liquidation that had already commenced before the amendment. A secured creditor enforcing security under the insolvency code may realise only the assets over which an enforceable charge is actually established; it cannot demand possession of property beyond the secured portions proved on record. On the facts, possession was confined to the identified assets subject to exclusive charge or sole first charge, while assets under second charge or pari passu charge remained in the liquidation estate. en-us Thu, 01 Apr 2021 00:00:00 +0530 Thu, 29 Apr 2021 10:23:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407027 Amended liquidation regulations are prospective unless the text expressly provides retrospective effect, so Regulation 21A could not govern a liquidation that had already commenced before the amendment. A secured creditor enforcing security under the insolvency code may realise only the assets over which an enforceable charge is actually established; it cannot demand possession of property beyond the secured portions proved on record. On the facts, possession was confined to the identified assets subject to exclusive charge or sole first charge, while assets under second charge or pari passu charge remained in the liquidation estate. Case-Laws Insolvency and Bankruptcy Thu, 01 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407027