https://www.taxtmi.com/caselaws?id=250744 A secured creditor's right to enforce a security interest under the SARFAESI Act prevails over claims for government dues unless a statute creates an express first charge in favour of the revenue. Sections 11 of the Central Excise Act and 142 of the Customs Act were treated as recovery provisions only; they did not confer any preferential right or first charge on the department. The departmental restraint order preventing the bank from proceeding against the secured assets was therefore unsustainable and was quashed. en-us Thu, 07 Aug 2014 00:00:00 +0530 Fri, 09 Jan 2015 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250744 A secured creditor's right to enforce a security interest under the SARFAESI Act prevails over claims for government dues unless a statute creates an express first charge in favour of the revenue. Sections 11 of the Central Excise Act and 142 of the Customs Act were treated as recovery provisions only; they did not confer any preferential right or first charge on the department. The departmental restraint order preventing the bank from proceeding against the secured assets was therefore unsustainable and was quashed. Case-Laws Customs Thu, 07 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250744