Relinquishment of security interest

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....ealise its security interest, as the case may be, in ^6[such format as notified by the Board]: Provided that, where a secured creditor does not intimate its decision within ^7[fourteen days] from the liquidation commencement date, the assets covered under the security interest shall be ^8[deemed to be relinquished] to ^9[****] the liquidation estate. ^2[(2) Where a secur....

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....ed by the liquidator: Provided further that any difference between the amount payable under this sub-regulation and the amount paid under the first proviso shall be made good by the secured creditor or the liquidator, as the case may be, as soon as the amount payable under this sub-regulation is certain and so informed by the liquidator. (3) Where a secured creditor fails to comply wit....

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....nd sub-clause  (i) of clause (b) of sub-section (1) of section 53, as it would have shared in case it had relinquished the security interest." 3.  Inserted vide Notification No. IBBI/2022-23/GN/REG082 dated 28-04-2022 4.  Substituted vide F. No. IBBI/2026-27/GN/REG151 dated 01-06-2026 w.e.f. 02-06-2026 before it was read as,  "Presumption" ....