https://www.taxtmi.com/caselaws?id=190962 Section 529-A of the Companies Act gives overriding priority in winding up to workmen's dues and debts due to secured creditors, and Section 530 is subordinate to that priority. Although Section 38C of the Bombay Sales-tax Act creates a first charge on a dealer's property, it operates only subject to a contrary first-charge provision in a Central enactment. The Maharashtra Land Revenue Code does not convert recoverable sales tax into arrears of land revenue so as to displace the Companies Act scheme. The secured creditors' statutory priority therefore prevails, and the State cannot claim pari passu payment for sales tax dues on the strength of those State law provisions. en-us Thu, 18 Mar 2010 00:00:00 +0530 Sat, 19 Aug 2023 10:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190962 Section 529-A of the Companies Act gives overriding priority in winding up to workmen's dues and debts due to secured creditors, and Section 530 is subordinate to that priority. Although Section 38C of the Bombay Sales-tax Act creates a first charge on a dealer's property, it operates only subject to a contrary first-charge provision in a Central enactment. The Maharashtra Land Revenue Code does not convert recoverable sales tax into arrears of land revenue so as to displace the Companies Act scheme. The secured creditors' statutory priority therefore prevails, and the State cannot claim pari passu payment for sales tax dues on the strength of those State law provisions. Case-Laws VAT and Sales Tax Thu, 18 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190962