https://www.taxtmi.com/caselaws?id=341905 A general statutory priority for secured creditors does not displace a specific first charge created by a social welfare statute protecting provident fund dues. Section 31B of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 gives secured creditors priority, but it does not expressly override the priority accorded by Section 11(2) of the EPF Act to provident fund dues. As the EPF Act is a welfare enactment and the later provision contained no clear displacement of that protection, provident fund dues continued to rank ahead of the secured debt. The attachment order was therefore upheld and the challenge failed. en-us Mon, 10 Apr 2017 00:00:00 +0530 Tue, 18 Apr 2017 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341905 A general statutory priority for secured creditors does not displace a specific first charge created by a social welfare statute protecting provident fund dues. Section 31B of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 gives secured creditors priority, but it does not expressly override the priority accorded by Section 11(2) of the EPF Act to provident fund dues. As the EPF Act is a welfare enactment and the later provision contained no clear displacement of that protection, provident fund dues continued to rank ahead of the secured debt. The attachment order was therefore upheld and the challenge failed. Case-Laws Indian Laws Mon, 10 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341905