https://www.taxtmi.com/caselaws?id=335728 Section 31B, inserted by the 2016 amendment, gives secured creditors priority in the realisation of secured debts over all other debts and Government dues, including taxes, cesses and rates, by virtue of its non obstante effect. The provision applies to pending lis after its commencement, so it governs disputes already in progress. The same priority regime extends to sale of secured assets, including auction sales of mortgaged property, meaning a third-party purchaser takes the asset within that statutory framework. en-us Thu, 10 Nov 2016 00:00:00 +0530 Wed, 23 Jul 2025 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335728 Section 31B, inserted by the 2016 amendment, gives secured creditors priority in the realisation of secured debts over all other debts and Government dues, including taxes, cesses and rates, by virtue of its non obstante effect. The provision applies to pending lis after its commencement, so it governs disputes already in progress. The same priority regime extends to sale of secured assets, including auction sales of mortgaged property, meaning a third-party purchaser takes the asset within that statutory framework. Case-Laws VAT / Sales Tax Thu, 10 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335728