https://www.taxtmi.com/caselaws?id=407901 An assignee of financial debt may be substituted for the original financial creditor in pending insolvency proceedings against personal guarantors where the debt has been validly assigned and the original creditor raises no objection. The assignment was treated as transferring the right to recover dues and to continue enforcement proceedings, and no prejudice to the personal guarantors was shown. On that basis, the substitution application was held maintainable under the applicable insolvency and tribunal rules, and the assignee was permitted to prosecute the pending proceedings in place of the original creditor. en-us Thu, 13 May 2021 00:00:00 +0530 Wed, 26 May 2021 08:40:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407901 An assignee of financial debt may be substituted for the original financial creditor in pending insolvency proceedings against personal guarantors where the debt has been validly assigned and the original creditor raises no objection. The assignment was treated as transferring the right to recover dues and to continue enforcement proceedings, and no prejudice to the personal guarantors was shown. On that basis, the substitution application was held maintainable under the applicable insolvency and tribunal rules, and the assignee was permitted to prosecute the pending proceedings in place of the original creditor. Case-Laws Insolvency and Bankruptcy Thu, 13 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407901