TaxTMI 
TaxTMI 
Secured Creditors and Asset Disposal in Liquidation: High Court's Balancing Act
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....s of various stakeholders, including secured creditors and parties claiming rights over assets in possession of the liquidating company, present complex legal issues. This commentary delves into a recent High Court ruling addressing these issues, offering a comprehensive legal analysis of the decision and its implications. The case in question involved a company in liquidation and multiple parties....
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....edure for disposing of assets in a liquidation scenario, particularly under the IBC and the Companies Act. * Rights of Other Claimants: The rights of other parties claiming interests in the assets, either through lease agreements or other forms of possession. * Jurisdictional and Procedural Concerns: The interplay between the High Court's jurisdiction and the role of the National Compa....
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....ng high-value movable and immovable properties. * Claims of Other Parties: The court carefully considered the claims of other parties who had entered into agreements with the company. It sought to ensure that their rights were not overlooked in the liquidation process, allowing them to present their claims before the NCLT. * Asset Protection and Expenses: The court addressed the concern of....