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2019 (11) TMI 1730 - BOMBAY HIGH COURTAssignment deed - case of petitioner is that since under the Tripartite Agreement Dewan Housing Finance Corporation Ltd. was vested with the right to sell the secured asset as an assignee, the Petitioner can sell the same - HELD THAT:- The argument overlooks the fact that the right of the financial institution to sell the secured asset as per clause (2) of Tripartite Agreement dated 26th May 2015 was subject to paragraph (d) thereof. Meaning thereby, if the lessee committed default by not adhering to terms of the lease, the lease was liable to be revoked - the Petitioner, as an assignee of Dewan Housing Finance Corporation Ltd. can at best step into the shoes of the company and respond to the show-cause notice raising such defences as would be permissible in law. By no stretch of imagination or of legal reasoning can it be said that Maharashtra Industrial Development Corporation was not entitled to issue show-cause notice which has been challenged - petition dismissed.
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