https://www.taxtmi.com/caselaws?id=450678 A pre-existing registered mortgage creating an interest in immovable property remains enforceable in liquidation, and the secured creditor's status is not lost merely because the charge was not registered with the Registrar of Companies. The Tribunal stated that later CERSAI registration could not retrospectively defeat earlier mortgage rights, and that liquidation regulations could not dilute a validly created security interest. On that basis, the liquidator's treatment of the lender as an unsecured financial creditor was held unsustainable, and the lender's right to be recognised as a secured creditor and to realise its security in accordance with law was protected. en-us Thu, 07 Mar 2024 00:00:00 +0530 Sun, 10 Mar 2024 20:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450678 A pre-existing registered mortgage creating an interest in immovable property remains enforceable in liquidation, and the secured creditor's status is not lost merely because the charge was not registered with the Registrar of Companies. The Tribunal stated that later CERSAI registration could not retrospectively defeat earlier mortgage rights, and that liquidation regulations could not dilute a validly created security interest. On that basis, the liquidator's treatment of the lender as an unsecured financial creditor was held unsustainable, and the lender's right to be recognised as a secured creditor and to realise its security in accordance with law was protected. Case-Laws Insolvency and Bankruptcy Thu, 07 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450678