https://www.taxtmi.com/caselaws?id=112772 The Division Bench dismissed the Union of India's appeal seeking priority for duty recovery over other dues in a company liquidation case. The court held that the Customs Department lacked statutory power to control goods custody, ruling in favor of secured creditors over Crown debts. The judgment emphasized that without specific statutory provisions granting 'first charge,' the Union of India's claim did not take precedence, directing the claim to be considered along with others under the Companies Act. en-us Thu, 22 Jan 2009 00:00:00 +0530 Tue, 01 May 2012 16:58:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112772 The Division Bench dismissed the Union of India's appeal seeking priority for duty recovery over other dues in a company liquidation case. The court held that the Customs Department lacked statutory power to control goods custody, ruling in favor of secured creditors over Crown debts. The judgment emphasized that without specific statutory provisions granting 'first charge,' the Union of India's claim did not take precedence, directing the claim to be considered along with others under the Companies Act. Case-Laws Companies Law Thu, 22 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112772