https://www.taxtmi.com/article/detailed?id=16116 Symbolic possession under SARFAESI is a paper possession of secured property without physical control, but the Insolvency and Bankruptcy Code requires the Interim Resolution Professional to take actual control and custody of the corporate debtor's assets on commencement of CIRP. The article examines whether, in a section 10 CIRP, a corporate debtor may hand over only symbolic possession to the Interim Resolution Professional. Referring to the Orion Water Treatment Private Limited case, it notes that the National Company Law Appellate Tribunal found no legal basis for symbolic possession in CIRP and upheld actual handover of assets, records, and cooperation. en-us Wed, 01 Apr 2026 07:51:55 +0530 Wed, 01 Apr 2026 07:51:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16116 Symbolic possession under SARFAESI is a paper possession of secured property without physical control, but the Insolvency and Bankruptcy Code requires the Interim Resolution Professional to take actual control and custody of the corporate debtor's assets on commencement of CIRP. The article examines whether, in a section 10 CIRP, a corporate debtor may hand over only symbolic possession to the Interim Resolution Professional. Referring to the Orion Water Treatment Private Limited case, it notes that the National Company Law Appellate Tribunal found no legal basis for symbolic possession in CIRP and upheld actual handover of assets, records, and cooperation. Articles Corporate Laws / IBC / SEBI Wed, 01 Apr 2026 07:51:55 +0530 https://www.taxtmi.com/article/detailed?id=16116