https://www.taxtmi.com/caselaws?id=110325 The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 was treated as conferring exclusive jurisdiction on the Tribunal for adjudication and on the Recovery Officer for execution of a recovery certificate. By virtue of its overriding effect under section 34, the Company Court was held to have no control over execution of the certificate or sale of secured immovable assets covered by it. Winding up proceedings do not restore any power in the Official Liquidator to sell those assets. The pari passu charge reasoning in company law was held inapplicable because it did not address the interaction between the 1993 Act and the Companies Act, 1956. en-us Fri, 14 Jan 2005 00:00:00 +0530 Mon, 16 Apr 2012 13:06:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110325 The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 was treated as conferring exclusive jurisdiction on the Tribunal for adjudication and on the Recovery Officer for execution of a recovery certificate. By virtue of its overriding effect under section 34, the Company Court was held to have no control over execution of the certificate or sale of secured immovable assets covered by it. Winding up proceedings do not restore any power in the Official Liquidator to sell those assets. The pari passu charge reasoning in company law was held inapplicable because it did not address the interaction between the 1993 Act and the Companies Act, 1956. Case-Laws Companies Law Fri, 14 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110325