Assignment of receivables/debt

Querist : Anonymous (Querist) 20 March 2018 This query is : Resolved
Is Assignment of Receivables to any individual by any business to get Invoice Financing facility of few lacs in Mumbai is ligitimate and out of the perview of Money Lending Act

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SHIRISH PAWAR, 7738990900 (Expert) 20 March 2018
Any type of money lending without licence is offence.

Guest (Expert) 20 March 2018
Yes, permissible, as a temporary business financing transaction. It does not fall withing the scope of a regular money lending business to attract any legal implication.
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Kumar Doab (Expert) 20 March 2018
Such transactions are allowed...
You may refer the matter to your legal cell/CA/CS/counsel for legal opinion in/for establishment....

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Kumar Doab (Expert) 20 March 2018
Don't post as AQ.
You may post with your ID and you can get many replies.
Your ID does not mean your email id or phone number and don’t post these also.

Dr J C Vashista (Expert) 22 March 2018
If you are seeking obligation from experts FREE OF COST you will have to disclose your identity as per rules of this platform.
No reply for an "anonymous" author.

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