https://www.taxtmi.com/caselaws?id=111421 A statutory transfer-and-repeal scheme can place successor entities in the shoes of the former institution for recovery purposes. The Court notes that, under the 2002 transfer statute and the Companies Act, the Administrator of the Specified Undertaking of UTI and the UTI Trustee Company were treated as financial institutions under the 1993 recovery law. It also records that the vesting provisions preserved their right to recover debts due to the vested undertakings, so they were not restricted to acting merely as agents or trustees. On that footing, the Debts Recovery Tribunal could entertain the claim. en-us Wed, 13 Dec 2006 00:00:00 +0530 Fri, 04 Nov 2016 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111421 A statutory transfer-and-repeal scheme can place successor entities in the shoes of the former institution for recovery purposes. The Court notes that, under the 2002 transfer statute and the Companies Act, the Administrator of the Specified Undertaking of UTI and the UTI Trustee Company were treated as financial institutions under the 1993 recovery law. It also records that the vesting provisions preserved their right to recover debts due to the vested undertakings, so they were not restricted to acting merely as agents or trustees. On that footing, the Debts Recovery Tribunal could entertain the claim. Case-Laws Companies Law Wed, 13 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111421