https://www.taxtmi.com/caselaws?id=460142 A lender may assign its debt asset to an asset reconstruction company under the SARFAESI framework even without a prior NPA declaration or borrower consent, where the account is otherwise stressed or irregular. RBI directions distinguish between standard, stressed, SMA and NPA accounts, and transfer of financial assets is not confined to accounts already classified as NPAs. The borrower's rights are not defeated by the assignment itself, and prior notice or consent is not a precondition for validity. A writ petition seeking to restrain recall and recovery measures in a private loan dispute was also held not maintainable in the absence of a statutory infraction, and the Court refused Article 226 interference in commercial recovery decisions. en-us Wed, 28 Feb 2024 00:00:00 +0530 Mon, 13 Jan 2025 16:04:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460142 A lender may assign its debt asset to an asset reconstruction company under the SARFAESI framework even without a prior NPA declaration or borrower consent, where the account is otherwise stressed or irregular. RBI directions distinguish between standard, stressed, SMA and NPA accounts, and transfer of financial assets is not confined to accounts already classified as NPAs. The borrower's rights are not defeated by the assignment itself, and prior notice or consent is not a precondition for validity. A writ petition seeking to restrain recall and recovery measures in a private loan dispute was also held not maintainable in the absence of a statutory infraction, and the Court refused Article 226 interference in commercial recovery decisions. Case-Laws Indian Laws Wed, 28 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460142