CIRP Can Proceed Despite SARFAESI Actions; Insolvency Code Offers "Remedy in Rem" for Financial Creditors.

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Full Text of the Document

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....Initiation of CIRP - the pendency of the SARFAESI proceeding or other dispute does not prevent a financial creditor to trigger the corporate insolvency resolution process because the nature of remedy being sought for under the provisions of the I and B Code is "Remedy in Rem" in respect of the CD.....