Applicant Challenges Liquidator's Role in Asset Possession and Sale Without Court Permission; Submissions Dismissed.

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....Liquidation proceedings - Right of secured creditors - Both the submissions on behalf of the applicant that the Official Liquidator ought to have taken physical possession of the subject assets, despite the secured creditor having initiated steps to enforce the security interest therein, and before sale respondent No. 3 must have obtained the permission of the Company Court, fell through. - HC....