https://www.taxtmi.com/caselaws?id=197396 The court found the deed of assignment executed by State Bank of India in favor of Kotak Mahindra Bank Ltd. to be illegal and arbitrary. It ruled the assignment invalid due to inadequate consideration, fraud, and misrepresentation. The court allowed the writ petition, quashed the assignment deed, directed SBI to accept Rs. 195 lakhs from Helios Company for settlement, and released the charge on Helios Company's property. The court emphasized fairness in actions of financial institutions. en-us Mon, 25 May 2009 00:00:00 +0530 Fri, 05 Jan 2018 14:36:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197396 The court found the deed of assignment executed by State Bank of India in favor of Kotak Mahindra Bank Ltd. to be illegal and arbitrary. It ruled the assignment invalid due to inadequate consideration, fraud, and misrepresentation. The court allowed the writ petition, quashed the assignment deed, directed SBI to accept Rs. 195 lakhs from Helios Company for settlement, and released the charge on Helios Company's property. The court emphasized fairness in actions of financial institutions. Case-Laws Companies Law Mon, 25 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197396