https://www.taxtmi.com/acts?id=54005 Section 52 is amended to require a secured creditor intending to realise security interest during liquidation to inform the liquidator and identify the asset within fourteen days from the liquidation commencement date, failing which the security interest is deemed relinquished to the liquidation estate. Where more than one secured creditor has security over the same asset, realisation requires agreement of secured creditors representing not less than sixty-six per cent of the value of the secured claims. The amendment also requires deduction and transfer of insolvency resolution process costs, liquidation costs, and workmen's dues from realisation proceeds, and clarifies the amendment's prospective application. en-us Tue, 07 Apr 2026 13:09:56 +0530 Tue, 07 Apr 2026 13:09:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=54005 Section 52 is amended to require a secured creditor intending to realise security interest during liquidation to inform the liquidator and identify the asset within fourteen days from the liquidation commencement date, failing which the security interest is deemed relinquished to the liquidation estate. Where more than one secured creditor has security over the same asset, realisation requires agreement of secured creditors representing not less than sixty-six per cent of the value of the secured claims. The amendment also requires deduction and transfer of insolvency resolution process costs, liquidation costs, and workmen's dues from realisation proceeds, and clarifies the amendment's prospective application. Act-Rules F. Acts / Amendment Acts Tue, 07 Apr 2026 13:09:56 +0530 https://www.taxtmi.com/acts?id=54005