Section 7(2) in The Factoring Regulation Act, 2011
(2)On execution of agreement in writing for assignment of receivables, all the rights, remedies and any security interest created over any property exclusively to secure the due payment of receivable shall vest in the assignee and the assignee shall have an absolute right to recover such receivable and exercise all the rights arid remedies of the assignor whether by way of damages or otherwise, or whether notice of assignment as provided in section 8 is given or not.
