These statutes constitute vital lifelines of Indian trade and commerce. While IBC focuses on corporate debt resolution, the remaining two address maritime claim enforcement. In common parlance, maritime liens are security interest recognized under maritime law, attaching to a vessel, certain types of claims such as seafarers’ wages, salvage, or damages from collision. These rights exist independent of possession, travel with the ship, and are enforceable through in rem actions – that is, claims directed against the vessel itself rather than its owner – whereas IBC proceedings are in personam in nature, targeting the corporate debtor.
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