Secured Creditors and Asset Disposal in Liquidation: High Court's Balancing Act

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ets and the rights 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 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... and Liquidation Process : The procedure 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 ju .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... zed the need for safeguarding their interests, especially concerning 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. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X