https://www.taxtmi.com/caselaws?id=303436 Assignment of a company's debt by a financial institution was held not to be vitiated by mala fides or breach of fiduciary duty where the alleged bad faith was unsupported by the timing of payment, the acceptance of the bid, or settlement conduct, and where non-disclosure of the asset's identity in the public notice was treated as a prudent commercial measure. The debtor could not invoke Article 14 to defeat the assignment because fairness in State action applies only when a legally protected right is affected; in an assignment of a non-performing asset, the borrower's liability remains unchanged and there is no enforceable right to insist on the identity of the creditor or to prevent transfer. The challenge therefore failed on merits. en-us Thu, 08 Dec 2011 00:00:00 +0530 Fri, 22 Jul 2022 15:09:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303436 Assignment of a company's debt by a financial institution was held not to be vitiated by mala fides or breach of fiduciary duty where the alleged bad faith was unsupported by the timing of payment, the acceptance of the bid, or settlement conduct, and where non-disclosure of the asset's identity in the public notice was treated as a prudent commercial measure. The debtor could not invoke Article 14 to defeat the assignment because fairness in State action applies only when a legally protected right is affected; in an assignment of a non-performing asset, the borrower's liability remains unchanged and there is no enforceable right to insist on the identity of the creditor or to prevent transfer. The challenge therefore failed on merits. Case-Laws Indian Laws Thu, 08 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303436