Case Law Details
Case Name : Arjun Industries Ltd & ANR Vs Industrial Development Bank of India & ANR. (Delhi High Court)
Related Assessment Year :
Courts :
All High Courts Delhi High Court
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Arjun Industries Ltd & Anr Vs. Industrial Development Bank Of India & Anr.(Delhi HC) – Para 7 of the order dated 23.05.2007 reads as under:-
‘During the course of arguments, we had put to learned counsel for the parties that prima facie there does not appear to be any legal impediment or obstacle in the assignment of the debt by financial institution like IDBI. However, if the respondents wish to contest the O.A. filed by the petitioner before the Debt Recovery Tribunal on merits and/or to contend that petitioner was also bound by the settlement recommended for acceptance ...
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We really feel this judgment of Hon’ble bench of Delhi High Court is bringing breeze in the field of debtors who want to settle their dues.Thanks to the positive thought.An attempt has been made to create a equality before law,for a honest debtor and guarantors. Right to get a fair deal is also an universal legal right.