Please clarify me on the legal position on the legal right of ARC whose

In the said case Bank accepts the offer of ARC on its portfolio sale. Further, the said Bank had only

(i) Entered into an agreement of debit assignment with ARC on 07.11.2006.

(ii) Till date the Deed of Assignment is not Registered with concerned Sub-Registrar

(iii) And no modification to charge has been filed with ROC and had also not filed details of transactions of securitisation, reconstruction and creation of security interest with the Central Registrar with Central Registry.

!. Is it not the duty of the securitisation company or Reconstruction Company or the secured creditor to file the modification of Charge?

2. What is the mandatory date before which the Deed of assignment has to be Registered with concerned Sub-Registrar?

3. Why it is required?

4. Is such an agreement of debit assignment with out Registration before the sub -registrar gives a legal right to proceed against the barrower under the ARC under SARFAESI ACT?

5. Is such arrangement under the Act is valid?

Regards,

Kishen