Debt Transfer in Insolvency: Lenders Can Assign Debt to Others, Even Without SARFAESI Registration or ARC License.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Corporate insolvency process - assignment of debt - even assuming that the Standard Chartered Bank was not registered under the SARFAESI Act nor having license to business of ARCs in India being registered with the RBI, there can be no bar for assignment and transfer of the debt by the Principle Lender to another bank or to a financial institution for enforcing/recovery of such debt....