Once a Secured Creditor opts to relinquish its security interest, the distribution of assets would be governed by the provision engrafted in Section 53(1)(b)(ii) whereunder all Secured Creditors having relinquished security interest rank equally – Technology Development Board Vs. Mr. Anil Goel Liquidator of Gujarat Oleo Chem Limited (GOCL) – NCLAT New Delhi

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