https://www.taxtmi.com/caselaws?id=257154 Valid assignment of debt with underlying security allows the assignee bank to step into the assignor's shoes and seek substitution in pending proceedings, because the borrower becomes the borrower of the assignee for enforcement purposes. The Gujarat High Court upheld substitution of the assignee bank in place of the original lender. It also held that issues left open by the Supreme Court remand, including registration, stamping, and the effect of assignment in liquidation proceedings under Section 529A of the Companies Act, 1956, must be decided afresh by the Company Judge. Prior broader observations inconsistent with that limited remand were quashed to that extent. en-us Tue, 30 Sep 2014 00:00:00 +0530 Tue, 03 Mar 2015 17:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257154 Valid assignment of debt with underlying security allows the assignee bank to step into the assignor's shoes and seek substitution in pending proceedings, because the borrower becomes the borrower of the assignee for enforcement purposes. The Gujarat High Court upheld substitution of the assignee bank in place of the original lender. It also held that issues left open by the Supreme Court remand, including registration, stamping, and the effect of assignment in liquidation proceedings under Section 529A of the Companies Act, 1956, must be decided afresh by the Company Judge. Prior broader observations inconsistent with that limited remand were quashed to that extent. Case-Laws Companies Law Tue, 30 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257154