Industrial Reconstruction Bank of India Act : Power to transfer rights. Indian Bare Acts :

Industrial Reconstruction Bank of India Act,1984

Act No : 62

Section : Power to transfer rights.

22. Power to transfer rights.- The rights and interests of the Reconstruction Bank (including any other rights incidental thereto) in relation to any loan or advance granted, or any amount recoverable, by it may be transferred by the Reconstruction Bank, either in whole or in part, by the execution or issue of any instrument, or by the transfer of any instrument by endorsement, or in any other manner in which the rights and interests in relation to such loan or advance may be lawfully transferred, and the Reconstruction Bank may, notwithstanding such transfer, act as the trustee of the transferee. 565