https://www.taxtmi.com/caselaws?id=265552 A secured creditor may, after taking measures under Section 13(4) of the SARFAESI Act, separately assign the debt under Section 5 even while proceedings before the Debt Recovery Tribunal are pending. The debt-assignment notice is distinct from a sale of the secured asset; assignment is an independent commercial transfer in which the transferee steps into the creditor's shoes and the borrower's liability remains unchanged. Pending challenge to a sale notice before the Tribunal does not bar this separate exercise of transfer rights, and the assignment price is a matter for the secured creditor. The writ challenge to the assignment notice was rejected. en-us Tue, 04 Aug 2015 00:00:00 +0530 Tue, 13 Oct 2015 13:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265552 A secured creditor may, after taking measures under Section 13(4) of the SARFAESI Act, separately assign the debt under Section 5 even while proceedings before the Debt Recovery Tribunal are pending. The debt-assignment notice is distinct from a sale of the secured asset; assignment is an independent commercial transfer in which the transferee steps into the creditor's shoes and the borrower's liability remains unchanged. Pending challenge to a sale notice before the Tribunal does not bar this separate exercise of transfer rights, and the assignment price is a matter for the secured creditor. The writ challenge to the assignment notice was rejected. Case-Laws Companies Law Tue, 04 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265552