Bombay HC: Clarifies Procedure for Executing Foreign Decrees  ||  Supreme Court: Bureaucratic Delay No Excuse  ||  Supreme Court Grants Full Disability Pension Arrears to Veterans  ||  Delhi HC: Workman Cannot Claim Section 17(B) of the ID Act Wages after Reaching Superannuation Age  ||  Allahabad HC: Caste by Birth Remains Unchanged Despite Conversion or Inter-Caste Marriage  ||  Delhi High Court: Tweeting Corruption Allegations Against Employer Can Constitute Misconduct  ||  Delhi High Court: State Gratuity Authorities Lack Jurisdiction over Multi-State Establishments  ||  Kerala High Court: Arrest Grounds Need Not Mention Contraband Quantity When No Seizure is Made  ||  SC: Silence During Investigation Does Not Ipso Facto Mean Non-Cooperation to Deny Bail  ||  Supreme Court: High Courts Cannot Re-Examine Answer Keys Even in Judicial Service Exams    

Majestic Hotels Limited v. IFCI Ltd. and Ors. - (High Court of Punjab and Haryana) (04 Aug 2015)

Assignment is a transaction independent of sale of secured asset

MANU/PH/2188/2015

Banking

The assignment of debt by a secured creditor is an independent transaction, which does not affect either the liability or the rights of the borrower. In a petition against transfer of debt by the secured creditor, the Court held it to be a separate issue to the challenge of notice of sale of property. It added that the transfer of debt was a commercial decision of the secured creditor and the borrower could not have any say in the same.

Relevant : Section 13 SARFAESI, 2002 Act ICICI Bank Limited vs. Official Liquidator of APS Star Industries Ltd. and Ors. MANU/SC/0782/2010

Tags : SECURITY   ASSIGNMENT   SECURED CREDITOR   TRANSFER OF DEBT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved