https://www.taxtmi.com/caselaws?id=777116 A secured creditor that failed to intimate within thirty days of the liquidation commencement date that it would not relinquish its security interest was treated as having its asset fall within the liquidation estate under Regulation 21A of the IBBI (Liquidation Process) Regulations, 2016. An application seeking condonation of delay and directions concerning the secured asset was dismissed for default when no appearance was made, and the record showed the asset had already been sold in liquidation. In the absence of substitution by the assignee or any demonstrated procedural error, no appellate interference was warranted. en-us Fri, 22 Aug 2025 00:00:00 +0530 Mon, 25 Aug 2025 08:40:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777116 A secured creditor that failed to intimate within thirty days of the liquidation commencement date that it would not relinquish its security interest was treated as having its asset fall within the liquidation estate under Regulation 21A of the IBBI (Liquidation Process) Regulations, 2016. An application seeking condonation of delay and directions concerning the secured asset was dismissed for default when no appearance was made, and the record showed the asset had already been sold in liquidation. In the absence of substitution by the assignee or any demonstrated procedural error, no appellate interference was warranted. Case-Laws IBC Fri, 22 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777116