Though a Secured Creditor has chosen to realise its security interest, it is also entitled for the information and documents as entitled by a stakeholder of the liquidation process – Bennett Property Holdings Company Ltd. Vs. The Liquidator of Biodiversity Conservation (India) Pvt. Ltd. – NCLT Bengaluru Bench
The Adjudicating Authority holds though the Applicant has chosen to stand outside the liquidation proceedings and to realise its security interest, and not a stakeholder, it is also entitled for the same information and documents as entitled by a stakeholder of the liquidation process. Therefore, the Liquidator is liable to share the information and furnish the documents to the Applicant, on par with any other stakeholder of the liquidation process.