https://www.taxtmi.com/caselaws?id=172873 State revenue dues do not override a secured creditor's right to enforce security under Section 29 of the State Financial Corporations Act, 1951. Where the creditor proceeds against mortgaged assets, the Customs and Central Excise Department cannot claim a superior charge over those assets, and no injunction can be granted merely because government dues remain unpaid. The secured creditor was therefore entitled to deal with the mortgaged properties in accordance with law, and the restraint order preventing sale was set aside. en-us Fri, 07 Dec 2007 00:00:00 +0530 Sat, 03 Oct 2015 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172873 State revenue dues do not override a secured creditor's right to enforce security under Section 29 of the State Financial Corporations Act, 1951. Where the creditor proceeds against mortgaged assets, the Customs and Central Excise Department cannot claim a superior charge over those assets, and no injunction can be granted merely because government dues remain unpaid. The secured creditor was therefore entitled to deal with the mortgaged properties in accordance with law, and the restraint order preventing sale was set aside. Case-Laws Central Excise Fri, 07 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172873