before me the documents and records relating to his client's rights and to state clearly what attitude his clients propose to take ... several documents to prove the rights claimed by his clients as mortgagees of the lands and buildings and as hypothecatees of the movables including
before me the documents and records relating to his client's rights and to state clearly what attitude his clients propose to take ... several documents to prove the rights claimed by his clients as mortgagees of the lands and buildings and as hypothecatees of the movables including
transferred. The only right acquired by the charge-holder is the right to be paid out of the property charged. The hypothecatee having nothing more ... even the right to get possession of the goods. Having no right of property not even right to possession, I apprehend that a hypothecate
mortgagee of immovable properties and hypothecatee of movable properties of the company (in liquidation), in exercise of the rights and powers conferred upon
result that the hypothecatee would be left without any remedy. The law, however, does not give room for the rights of a person like
immoveable properties and hypothecatee of moveable properties of the company (in liquidation) could in exercise of the rights and powers conferred upon
creditor or mortgagee or
hypothecatee. The bank can always transfer its asset.
Such transfer in no manner affects any right or
interest of the borrower
declared as category-3 of a special
mention account, the right of the lender to transfer
the amount to asset reconstruction company does
get triggered ... creditor or mortgagee or hypothecatee. The
bank can always transfer its asset. Such
transfer in no manner affects any right or
interest of the borrower
declared as category-3 of a special mention
account, the right of the lender to transfer the amount to asset
reconstruction company does get triggered ... creditor or mortgagee or hypothecatee. The bank
can always transfer its asset. Such transfer in no manner
affects any right or interest of the borrower
Legislature".
19. Section 29 , as noticed above, deals with the rights of Financial Corporation in case of default by the industrial concern/borrower ... industrial concern and not its sureties.
20. If the words "right to transfer by way of lease or sale and realize the property pledged
