https://www.taxtmi.com/caselaws?id=272070 An assignee bank holding a valid security interest may enforce the secured assets under the SARFAESI framework even after liquidation has commenced, because it steps into the shoes of the original lender as secured creditor. Objections based on alleged defects in the assignment deed, stamp duty, registration, or non-registration of charge did not defeat that substantive right where the underlying charge was already registered and the assignment had been duly recorded. Delay, waiver, or earlier restructuring also did not bar enforcement once default continued. The right to proceed was preserved, subject to the statutory protection of workmen's dues in liquidation. en-us Fri, 07 Aug 2015 00:00:00 +0530 Sat, 04 Nov 2017 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272070 An assignee bank holding a valid security interest may enforce the secured assets under the SARFAESI framework even after liquidation has commenced, because it steps into the shoes of the original lender as secured creditor. Objections based on alleged defects in the assignment deed, stamp duty, registration, or non-registration of charge did not defeat that substantive right where the underlying charge was already registered and the assignment had been duly recorded. Delay, waiver, or earlier restructuring also did not bar enforcement once default continued. The right to proceed was preserved, subject to the statutory protection of workmen's dues in liquidation. Case-Laws Indian Laws Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272070