Assignment of Debt - The unregistered documents cannot be taken ...

Unregistered Documents Invalid for Claims in Insolvency; Must Register Before Claim Date as per Registration Act.

January 5, 2021

Case Laws     Insolvency and Bankruptcy     Tri

Assignment of Debt - The unregistered documents cannot be taken into account for admission of the claim. The document must have been registered on the date on which the claim is made. No doubt for registration, four months are available under Section 23 of the Registration Act. The question is whether Assignment Agreement was registered on the date on which claim was made before the Resolution Professional. The documents must have been registered by the date the claim was made before the Resolution Professional. So when claim was made, the documents was not registered. Therefore, the document cannot be looked into. - Tri

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