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under this Act or for making any payment to secured creditors whose debts are entitled under law to priority
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workmen' s dues; and
(b) debts due to secured creditors to the extent such debts rank under clause
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adjudged insolvent: 1[ Provided that the security of every secured creditor shall be deemed to be subject to a pari ... workmen' s portion therein, and, where a secured creditor, instead of relinquishing his security and proving his debt, opts
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creditors, including any contingent or prospective creditor or creditors; or
(c) by any contributory or contributories ... Central Government in that behalf.
(2) A secured creditor, the holder of any debentures (including debenture stock), whether
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anything repugnant in the subject or context,--
(a) " creditor" includes a decree- holder," debt" includes a judgment- debt, and" debtor ... secured creditor" means a person holding a mortgage, charge or lien on the property of the debtor or any part
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thereafter, except as provided by this Act, no creditor to whom the insolvent is indebted in respect of any debt ... this section shall affect the power of any secured creditor to realise or otherwise deal with his security
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within 60 days, failing which the IDBI as a
secured creditor would be entitled to enforce the security interest
without ... other amount payable by a borrower to any secured
creditor consequent upon which the account of such borrower is
classified
Supreme Court of India
Canara Bank on the other, whose claim as a secured creditor
is still pending before the same Tribunal at Delhi ... attracted. In the Company Court,
any secured creditor who has not stood out of winding up but
wants to come
Supreme Court of India
alteration in the low as respects sales effected by
secured creditor-Secured creditor-Whether outside the
winding up-Construction-Presumption ... against implied
alteration of law.
HEADNOTE:
The secured creditor is outside the winding up and can
realism his security without
Supreme Court of India
opens.]
(2) If the petitioning creditor is a secured creditor, he shall in his petition either state that
Central Government Act
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