Secured Creditors with 75% Consent Can Halt Proceedings Under Sick Industrial Companies Act, Enforce Security Interest Act 2002.

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....Where secured creditors representing not less than 75% in value of the amount outstanding against financial assistance decide to enforce their security under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, any reference pending under the Sick Industrial Companies (Special Provisions) Act, 1985 cannot be proceeded with further - SC....