(1) Where a secured creditor realises his security, he may produce proof of the balance due to him.
(2) Where a secured creditor surrenders his security to the bankruptcy trustee for the general benefit of the creditors, he may produce proof of his whole claim.
Insolvency and Bankruptcy Code 2016
Section 172 Proof of debt by secured creditors
Section 173 Mutual credit and set-off
Section 174 Distribution of interim dividend
Section 175 Distribution of property
Section 177 Claims of creditors
Section 178 Priority of payment of debts
Section 179 Adjudicating Authority for individuals and partnership firms