https://www.taxtmi.com/caselaws?id=799904 Regulation 21A of the Liquidation Process Regulations treats secured assets as part of the liquidation estate where a secured creditor does not communicate its decision to realise the security within thirty days of liquidation commencement. A customs creditor's failure to exercise non-relinquishment within that period resulted in deemed relinquishment. Expired EPCG obligations, uninvoked and unrenewed bank guarantees, and automatic-renewal clauses did not alter that statutory consequence. Principles concerning subsisting guarantees or margin money held in trust were inapplicable. The funds underlying the bank guarantees formed part of the liquidation estate, requiring return of original bonds and remittance of FDR amounts to the liquidation account. en-us Fri, 25 Sep 2026 00:00:00 +0530 Tue, 29 Sep 2026 08:34:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799904 Regulation 21A of the Liquidation Process Regulations treats secured assets as part of the liquidation estate where a secured creditor does not communicate its decision to realise the security within thirty days of liquidation commencement. A customs creditor's failure to exercise non-relinquishment within that period resulted in deemed relinquishment. Expired EPCG obligations, uninvoked and unrenewed bank guarantees, and automatic-renewal clauses did not alter that statutory consequence. Principles concerning subsisting guarantees or margin money held in trust were inapplicable. The funds underlying the bank guarantees formed part of the liquidation estate, requiring return of original bonds and remittance of FDR amounts to the liquidation account. Case-Laws IBC Fri, 25 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799904