https://www.taxtmi.com/caselaws?id=386281 The court held that the Bank, as a secured creditor, had priority over the secured assets, despite the State's claim under Section 48 of the VAT Act. The court confirmed the applicability of Section 26E of the SARFAESI Act, giving secured creditors precedence over government dues. The Bank was granted the right to auction the secured assets and recover its dues, with the State prohibited from interfering with the Bank's rights under Section 26E. en-us Mon, 16 Sep 2019 00:00:00 +0530 Wed, 25 Sep 2019 14:18:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386281 The court held that the Bank, as a secured creditor, had priority over the secured assets, despite the State's claim under Section 48 of the VAT Act. The court confirmed the applicability of Section 26E of the SARFAESI Act, giving secured creditors precedence over government dues. The Bank was granted the right to auction the secured assets and recover its dues, with the State prohibited from interfering with the Bank's rights under Section 26E. Case-Laws Indian Laws Mon, 16 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386281