Legal Question in Banking Law in India

assignment of debt

judgements realting to assignment of debt to a guarantor by the bank under section 13(2) and 13(4)


Asked on 10/27/07, 11:46 pm

6 Answers from Attorneys
Amit Shukla AS and Associates Legal Services

Re: assignment of debt

What do you want to know regarding this?

Read more
Answered on 10/28/07, 12:50 am
G. M. Gupta gmguptaandassociates

Re: assignment of debt

cant give judgement here

Read more
Answered on 11/05/07, 2:53 am

Re: assignment of debt

consult any law journal and make search.

Read more
Answered on 10/28/07, 2:44 am
J. Radhakrishnan independent Practice

Re: assignment of debt

you are referring to 13(2) and 13(4). Which Act? If you are referring to Securitisation and Asset Reconstruction and Enforcement of Security Interest Act, then there are no judgments relating to assignment of the debt to the guarantor, as far as we know. But a guarantor need not get assignment of the debt to enable him to sue the debtor or other co-guarantors. If a guarantor discharges the debt guaranteed by him he is entitled to all the securities which the Creditor had (Sec.140 of the Contract Act). There is no need to have any assignment for that. In terms of Sec.145 of the same Act, he is impliedly entitled to be indemnified by the debtor for the payment of the rightful debt made by the surety.

Read more
Answered on 10/29/07, 8:07 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: assignment of debt

Please refer a law journal or whats the legal query please explain.

Read more
Answered on 10/28/07, 6:12 am
Vijay Chandavale Advocate Vijay Chandavale & Associates

Re: assignment of debt

there is no ban to assign the debt to guarantor as thought by you. Please elaborate your querry

Read more
Answered on 10/29/07, 12:33 pm


Related Questions & Answers

More Banking Law questions and answers in India