Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Priority Charge - Seeking directions to remove the order of attachment over the property of the borrower, which according to the petitioner, is mortgaged and is a secured asset - The petitioner, being a secured creditor with the security registered with the Central Registry, was entitled to the benefit of Section 26E of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The Court affirmed that the rights of secured creditors to realize secured debts shall have priority over all other debts and government dues. - The Court clarified that even if an auction is conducted by the secured creditor and the sale certificate is not registered, the Registering Authority may register it, notwithstanding the attachment by government departments.
Priority Charge - Seeking directions to remove the order of attachment over the property of the borrower, which according to the petitioner, is mortgaged and is a secured asset - The petitioner, being a secured creditor with the security registered with the Central Registry, was entitled to the benefit of Section 26E of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The Court affirmed that the rights of secured creditors to realize secured debts shall have priority over all other debts and government dues. - The Court clarified that even if an auction is conducted by the secured creditor and the sale certificate is not registered, the Registering Authority may register it, notwithstanding the attachment by government departments.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
