https://www.taxtmi.com/caselaws?id=272868 The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 applies to pre-existing loan transactions where the creditor is later brought within the statutory definition of secured creditor or financial institution. The Act was treated as remedial enforcement machinery, not as creating a new substantive right in the debt itself; the later notification merely enabled invocation of the statutory recovery framework from that date. Applying the distinction between substantive rights and procedural remedy, the later-notified institution was held entitled to proceed under the Act for earlier advances, and the contrary view was overruled. en-us Fri, 14 Feb 2014 00:00:00 +0530 Thu, 24 May 2018 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272868 The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 applies to pre-existing loan transactions where the creditor is later brought within the statutory definition of secured creditor or financial institution. The Act was treated as remedial enforcement machinery, not as creating a new substantive right in the debt itself; the later notification merely enabled invocation of the statutory recovery framework from that date. Applying the distinction between substantive rights and procedural remedy, the later-notified institution was held entitled to proceed under the Act for earlier advances, and the contrary view was overruled. Case-Laws Indian Laws Fri, 14 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272868