https://www.taxtmi.com/caselaws?id=426874 A secured creditor seeking to realise security interest in liquidation must timely identify the secured asset and comply with section 52 of the Insolvency and Bankruptcy Code, 2016. Where the vehicles had already been sold during the corporate insolvency resolution process, no objection was raised at the relevant time, and the alleged charged vehicles were identified only after liquidation commenced, the creditor could not later claim separate appropriation of the sale proceeds from the liquidation estate. The distribution already made to secured financial creditors, including the appellant's share, confirmed that the belated claim was not sustainable. en-us Thu, 25 Aug 2022 00:00:00 +0530 Fri, 26 Aug 2022 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426874 A secured creditor seeking to realise security interest in liquidation must timely identify the secured asset and comply with section 52 of the Insolvency and Bankruptcy Code, 2016. Where the vehicles had already been sold during the corporate insolvency resolution process, no objection was raised at the relevant time, and the alleged charged vehicles were identified only after liquidation commenced, the creditor could not later claim separate appropriation of the sale proceeds from the liquidation estate. The distribution already made to secured financial creditors, including the appellant's share, confirmed that the belated claim was not sustainable. Case-Laws Insolvency and Bankruptcy Thu, 25 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426874