Landmark case · Law of Banking and Negotiable Instruments · Semester 5

ICICI Bank Ltd. v. APS Star Industries Ltd.

(2010) 10 SCC 1 · Supreme Court of India

Assignment of debts by a bank is part of the business of banking under section 6; the assignee can recover the loan.

From topic

Banking Regulation Act, 1949: business of banking — Unit I, Law of Banking and Negotiable Instruments.

Related sections:

Banking Regulation Act, 1949, 5(b) — Banking
Banking Regulation Act, 1949, 6 — Forms of business in which banking companies may engage
Banking Regulation Act, 1949, 21–22 — Power to control advances; licensing of banking companies
Banking Regulation Act, 1949, 35A — Power of the Reserve Bank to give directions