https://www.taxtmi.com/caselaws?id=458833 A secured creditor that has invoked SARFAESI measures may be permitted to realize mortgaged and hypothecated assets outside winding up where the company is in liquidation, if the other secured creditors consent and the Official Liquidator is associated in the sale process. The creditor may remain outside the winding up proceedings, but the liquidation safeguards are preserved. Any sale proceeds from the secured assets must still be distributed according to the statutory priority scheme under sections 529 and 529A of the Companies Act, 1956, protecting secured workmen and other entitled claimants. en-us Thu, 30 Sep 2010 00:00:00 +0530 Mon, 18 Nov 2024 14:58:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458833 A secured creditor that has invoked SARFAESI measures may be permitted to realize mortgaged and hypothecated assets outside winding up where the company is in liquidation, if the other secured creditors consent and the Official Liquidator is associated in the sale process. The creditor may remain outside the winding up proceedings, but the liquidation safeguards are preserved. Any sale proceeds from the secured assets must still be distributed according to the statutory priority scheme under sections 529 and 529A of the Companies Act, 1956, protecting secured workmen and other entitled claimants. Case-Laws Companies Law Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458833