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2015 (10) TMI 827 - PUNJAB AND HARYANA HIGH COURTChallenge to Notice inviting bids for sale of Secured assets under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act – Secured creditor - Petitioner claims the amount outstanding to be ₹ 267.76 lacs which differs from the amount claimed by the Respondent of ₹ 105.65 crores – Petitioner contends that notice under Section 13(4) for assignment of debts is not permissible as the same is mentioned in Section 5 and the Respondent could have taken other measures. Held that:- Respondents have taken the action of assignment of debt under clause (a) of Section 13(4) the legality of which has been examined by the DRT - Intended assignment of debt by secured creditor is an independent transaction, which does not affect either the liability or the rights of the borrower – Notice of sale has been challenged before the DRT and the matter challenged in the present writ, both are independent of each other – Found no merits in the present writ as such dismissed – Decided in favour of the Respondent.
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