https://www.taxtmi.com/caselaws?id=332711 A statutory first charge for recovery of public revenue under the Andhra Pradesh Revenue Recovery Act, 1864 was treated as prevailing over a mortgagee's and secured creditor's rights under SARFAESI. The analysis applies the principle that non obstante clauses in recovery statutes do not displace a State law that expressly creates priority over property, so land, buildings and their products remain security for public revenue. On that basis, the revenue dues ranked ahead of the bank's claim, and the secured creditor could recover only from any balance remaining after satisfaction of the State's dues. en-us Wed, 10 Aug 2016 00:00:00 +0530 Fri, 23 Sep 2016 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332711 A statutory first charge for recovery of public revenue under the Andhra Pradesh Revenue Recovery Act, 1864 was treated as prevailing over a mortgagee's and secured creditor's rights under SARFAESI. The analysis applies the principle that non obstante clauses in recovery statutes do not displace a State law that expressly creates priority over property, so land, buildings and their products remain security for public revenue. On that basis, the revenue dues ranked ahead of the bank's claim, and the secured creditor could recover only from any balance remaining after satisfaction of the State's dues. Case-Laws VAT and Sales Tax Wed, 10 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332711