https://www.taxtmi.com/caselaws?id=303436 The court upheld IFCI Ltd.'s decision to assign debt to Kotak Mahindra Bank Ltd., finding no mala fide intent. The court emphasized the binding nature of a previous decision, dismissed allegations of mala fide against the parties, and recognized the 'Company's' bona fide efforts to settle debts. It clarified jurisdiction issues between BIFR and High Court, stating debtor rights were unaffected by debt assignment. The appeal was dismissed, with no costs due to the appellant's weak financial position. 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 The court upheld IFCI Ltd.'s decision to assign debt to Kotak Mahindra Bank Ltd., finding no mala fide intent. The court emphasized the binding nature of a previous decision, dismissed allegations of mala fide against the parties, and recognized the 'Company's' bona fide efforts to settle debts. It clarified jurisdiction issues between BIFR and High Court, stating debtor rights were unaffected by debt assignment. The appeal was dismissed, with no costs due to the appellant's weak financial position. Case-Laws Indian Laws Thu, 08 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303436