https://www.taxtmi.com/caselaws?id=196397 An interim order in securitisation proceedings confined to measures under Section 13(4) does not restrain a bank's separate statutory power to assign financial assets under Section 5 of the SARFAESI Act. Such an assignment remains a distinct transaction, and the borrower has no legal basis to challenge it merely because the debt arose from default or was transferred at a discounted value. On that footing, the appellate tribunal's view that there was no breach of the interim order and no legal or jurisdictional perversity was upheld, and writ interference under Article 226 was found unwarranted. en-us Mon, 30 Sep 2013 00:00:00 +0530 Wed, 29 Nov 2017 17:59:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196397 An interim order in securitisation proceedings confined to measures under Section 13(4) does not restrain a bank's separate statutory power to assign financial assets under Section 5 of the SARFAESI Act. Such an assignment remains a distinct transaction, and the borrower has no legal basis to challenge it merely because the debt arose from default or was transferred at a discounted value. On that footing, the appellate tribunal's view that there was no breach of the interim order and no legal or jurisdictional perversity was upheld, and writ interference under Article 226 was found unwarranted. Case-Laws Companies Law Mon, 30 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196397