https://www.taxtmi.com/caselaws?id=458279 A prior registered secured charge survives a winding up order, and an assignee of that security may enforce the secured assets outside the winding up proceedings. The assignment is treated as an inter se transfer and does not displace the pre-existing charge. However, the statutory safeguards for workmen's dues must be preserved, so the Official Liquidator retains a role in the sale process and in the distribution or deposit of sale proceeds. The secured creditor's right to proceed independently is therefore recognised, but it remains subject to participation by the Official Liquidator in post-sale steps and protection of the statutory interests attached to the security. en-us Thu, 25 Feb 2021 00:00:00 +0530 Thu, 17 Oct 2024 11:52:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458279 A prior registered secured charge survives a winding up order, and an assignee of that security may enforce the secured assets outside the winding up proceedings. The assignment is treated as an inter se transfer and does not displace the pre-existing charge. However, the statutory safeguards for workmen's dues must be preserved, so the Official Liquidator retains a role in the sale process and in the distribution or deposit of sale proceeds. The secured creditor's right to proceed independently is therefore recognised, but it remains subject to participation by the Official Liquidator in post-sale steps and protection of the statutory interests attached to the security. Case-Laws Indian Laws Thu, 25 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458279