https://www.taxtmi.com/caselaws?id=752085 A registered assignment deed and Section 5 of SARFAESI enable an assignee asset reconstruction company to step into the lender's shoes and maintain a Section 7 application as a financial creditor. The challenge that the assignment deed was insufficiently stamped did not succeed because there was no competent stamp-authority finding of invalidity. The mortgaged and guaranteed documents were duly stamped and registered, and the corporate debtor's guarantees created enforceable obligations. Pending stamp proceedings and related company disputes did not displace the existing finding of debt and default or defeat the admitted insolvency action. en-us Tue, 30 Apr 2024 00:00:00 +0530 Fri, 03 May 2024 07:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752085 A registered assignment deed and Section 5 of SARFAESI enable an assignee asset reconstruction company to step into the lender's shoes and maintain a Section 7 application as a financial creditor. The challenge that the assignment deed was insufficiently stamped did not succeed because there was no competent stamp-authority finding of invalidity. The mortgaged and guaranteed documents were duly stamped and registered, and the corporate debtor's guarantees created enforceable obligations. Pending stamp proceedings and related company disputes did not displace the existing finding of debt and default or defeat the admitted insolvency action. Case-Laws IBC Tue, 30 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752085