Supreme Court · 2023 INSC 929 · Decided 19 October 2023
Infrastructure Leasing and Financial Services LTD v. Hdfc Bank LTD. & ANR.
- Court
- Supreme Court of India
- Citation
- 2023 INSC 929 · [2023] 14 S.C.R. 1033
- Case number
- CIVIL APPEAL No. 4708/2022
- Decided
- 19 October 2023
- Bench
- S. RAVINDRA BHAT, DIPANKAR DATTA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Transfer of Property Act Section 3; Companies Act Section 432
Headnote
HEADNOTES Issue for consideration: Whether the documents executed by the borrower-appellant by which rents were made over to the lender-respondent constituted an assignment and thus fell outside the scope of an asset and security freeze order made by the NCLAT. Transfer of Property Act, 1882 - Sanction of fi nancial facility of ₹400 crores to the borrower by the lender - Parties entered into Master Facility Agreement-MFA and Assignment Agreement-AA - As per MFA receivables or rents which borrower is entitled to, form the security for the advance extended to
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