https://www.taxtmi.com/caselaws?id=284942 Amended priority provisions for secured creditors under the SARFAESI Act and the Recovery of Debts and Bankruptcy Act operate prospectively and do not displace an earlier State first charge and property attachment created under the Rajasthan VAT and land-revenue laws. A statutory first charge and an existing revenue attachment remain effective despite a subsequent auction, as later central priority provisions do not extinguish the State's charge by implication. A purchaser acquiring property after attachment cannot rely on lack of knowledge where the revenue proceedings provide constructive notice. Relief under the Specific Relief Act and the Transfer of Property Act is unavailable on these facts. en-us Wed, 05 Jul 2017 00:00:00 +0530 Wed, 18 Dec 2019 10:01:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284942 Amended priority provisions for secured creditors under the SARFAESI Act and the Recovery of Debts and Bankruptcy Act operate prospectively and do not displace an earlier State first charge and property attachment created under the Rajasthan VAT and land-revenue laws. A statutory first charge and an existing revenue attachment remain effective despite a subsequent auction, as later central priority provisions do not extinguish the State's charge by implication. A purchaser acquiring property after attachment cannot rely on lack of knowledge where the revenue proceedings provide constructive notice. Relief under the Specific Relief Act and the Transfer of Property Act is unavailable on these facts. Case-Laws VAT and Sales Tax Wed, 05 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284942