https://www.taxtmi.com/caselaws?id=404976 An assignee seeking recognition as a financial creditor in insolvency must establish a valid assignment before the Resolution Professional, including registration where required and satisfactory proof of consideration. If the claim is made before the deed is registered and the transfer of consideration is not properly shown, the Resolution Professional may decline to act on the assignment for Committee of Creditors admission. The assignee can step into the assignor's shoes only to the extent supported by the facts, and an assignor's related-party status that has already attained finality remains relevant to the claim's treatment. en-us Mon, 08 Mar 2021 00:00:00 +0530 Tue, 09 Mar 2021 08:47:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404976 An assignee seeking recognition as a financial creditor in insolvency must establish a valid assignment before the Resolution Professional, including registration where required and satisfactory proof of consideration. If the claim is made before the deed is registered and the transfer of consideration is not properly shown, the Resolution Professional may decline to act on the assignment for Committee of Creditors admission. The assignee can step into the assignor's shoes only to the extent supported by the facts, and an assignor's related-party status that has already attained finality remains relevant to the claim's treatment. Case-Laws Insolvency and Bankruptcy Mon, 08 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404976