https://www.taxtmi.com/caselaws?id=433160 A secured creditor must realise its security interest within the statutory liquidation timeline; once the sale period expires without completion, no further extension is warranted and possession cannot be retained. The secured asset must then be handed over to the liquidator and treated as part of the liquidation estate so that distribution proceeds under the liquidation scheme. A pre-fixed liquidation cost direction, found free from legal infirmity, was sustained. The appeal failed in full and the directions of the Adjudicating Authority were affirmed. en-us Fri, 20 Jan 2023 00:00:00 +0530 Mon, 23 Jan 2023 08:44:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433160 A secured creditor must realise its security interest within the statutory liquidation timeline; once the sale period expires without completion, no further extension is warranted and possession cannot be retained. The secured asset must then be handed over to the liquidator and treated as part of the liquidation estate so that distribution proceeds under the liquidation scheme. A pre-fixed liquidation cost direction, found free from legal infirmity, was sustained. The appeal failed in full and the directions of the Adjudicating Authority were affirmed. Case-Laws Insolvency and Bankruptcy Fri, 20 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433160