Bombay HC: Wife Humiliating Husband in Front of His Friends is Amounts to Cruelty  ||  Delhi HC Interprets Doctrine of “Compelled Self-Publication”,  ||  Del. HC Issues Summons to Campus Sutra in Trademark Infringement Suit Filed by Footwear Brand Campus  ||  Bombay HC Dismisses PIL Seeking Restraining Order against PRADA  ||  Delhi HC: Cannot Bypass Bar on Revision of Interlocutory Order by Invoking Inherent Jurisdiction  ||  Delhi HC: Prosecutrix’s Refusal to Undergo Medical Examination Weakens the Case  ||  Bom. HC: No Provision under JJ Act that Allows Adoption of a Child of Foreign Citizenship  ||  SC Passes Order to Prevent Russian Mother’s Attempt to Flee with Child  ||  SC: Deprivation of Natural Heir from Will May Not Raise Suspicion  ||  SC: Denying Female Heir Right in Property Only Exacerbates Gender Division    

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 2025 - All Rights Reserved