Provided that the right to transfer by way of lease, assignment or sale shall be exercised only
where the substantial part of the business of the borrower is held as security for the debt:
Provided further that where the management of whole of the business or part of the business is
severable, the secured creditor shall take over the management of such business of the borrower
which is relatable to the security for the debt;]
(c) appoint any person (hereafter referred to as the manager), to manage the secured assets the
possession of which has been taken over by the secured creditor;
(d) require at any time by notice in writing, any person who has acquired any of the secured
assets from the borrower and from whom any money is due or may become due to the borrower, to
pay the secured creditor, so much of the money as is sufficient to pay the secured debt
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