https://www.taxtmi.com/caselaws?id=356415 Initiation of arbitration under the Arbitration and Conciliation Act, 1996 does not bar recourse to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, because the security enforcement regime is an additional, complementary remedy for realisation of secured assets. After amalgamation, the transferee company as successor-in-interest may invoke the Act for pre-existing debts where the transferor's loans, security documents, rights and liabilities have vested in it. The statute operates retroactively in relation to existing debts and security interests, and the change in enforcement forum is procedural rather than substantive. en-us Fri, 23 Feb 2018 00:00:00 +0530 Tue, 06 Mar 2018 06:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356415 Initiation of arbitration under the Arbitration and Conciliation Act, 1996 does not bar recourse to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, because the security enforcement regime is an additional, complementary remedy for realisation of secured assets. After amalgamation, the transferee company as successor-in-interest may invoke the Act for pre-existing debts where the transferor's loans, security documents, rights and liabilities have vested in it. The statute operates retroactively in relation to existing debts and security interests, and the change in enforcement forum is procedural rather than substantive. Case-Laws Indian Laws Fri, 23 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356415