https://www.taxtmi.com/caselaws?id=781057 NCLAT allowed the appeal, set aside the Adjudicating Authority's order that excluded a 5% margin from the corporate debtor's assets and awarded it to the respondent. The Tribunal held the margin, being an unenforced equitable mortgage and backed by no live guarantees at CIRP commencement, remained the debtor's asset; the Supriyo Kumar ratio did not apply. The CoC's commercial decision to distribute proceeds pro-rata on admitted claims under s30(4) IBC could not be overridden, and enforcement of security interest is permissible only in liquidation under s52 IBC. Distribution to secured creditors to follow CoC's pro-rata scheme. en-us Wed, 29 Oct 2025 00:00:00 +0530 Tue, 11 Nov 2025 08:20:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781057 NCLAT allowed the appeal, set aside the Adjudicating Authority's order that excluded a 5% margin from the corporate debtor's assets and awarded it to the respondent. The Tribunal held the margin, being an unenforced equitable mortgage and backed by no live guarantees at CIRP commencement, remained the debtor's asset; the Supriyo Kumar ratio did not apply. The CoC's commercial decision to distribute proceeds pro-rata on admitted claims under s30(4) IBC could not be overridden, and enforcement of security interest is permissible only in liquidation under s52 IBC. Distribution to secured creditors to follow CoC's pro-rata scheme. Case-Laws IBC Wed, 29 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781057