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2021 (12) TMI 360 - Tri - Insolvency and BankruptcyPresumption of Security Interest - Adjudication of cost, pendente lite and future interest and Penal Interest over the documented rate in respect of its Credit Facility together with interest, further interest, Liquidated Damages and other charges at the contractual rates on the footing of the compound interest till payment and/or realization in full - permission to sale of Agricultural Land - hand over physical possession of the Agricultural Land - permission to sell/realize the above-mentioned Mortgaged Property - contention raised by the Applicant is that as there is no claim received from the workmen and as per the Regulation 21A of the Liquidation Regulations - HELD THAT:- On conjoint reading of Regulation 21A (2) and the Regulation 4 (2) (b) Clarification of the Liquidation Regulations, it is evident that when a secured creditor realizes its security interest, it shall pay the liquidation costs which includes the liquidator's fees. Further, in the case where a liquidator distributes any amount, which is not realised by him, he shall be entitled to a fee corresponding to the amount distributed by him. As to the facts of the present case, it is seen that the Respondent has no objection in allowing the application subject to compliances of Liquidation Regulations. Petition disposed off.
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