https://www.taxtmi.com/caselaws?id=399176 A secured creditor's statutory priority over government dues was reaffirmed, with the amended framework under Section 31B of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and Section 26-E of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 giving overriding effect to secured debts. In the absence of a specific first charge for revenue claims, encumbrances entered for taxes and similar dues cannot prevail over the secured creditor's right to realise secured assets. On the stated facts, the encumbrances were treated as wrongly entered and could not obstruct registration of the auction purchaser's sale certificate. en-us Wed, 09 Sep 2020 00:00:00 +0530 Mon, 05 Oct 2020 09:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399176 A secured creditor's statutory priority over government dues was reaffirmed, with the amended framework under Section 31B of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and Section 26-E of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 giving overriding effect to secured debts. In the absence of a specific first charge for revenue claims, encumbrances entered for taxes and similar dues cannot prevail over the secured creditor's right to realise secured assets. On the stated facts, the encumbrances were treated as wrongly entered and could not obstruct registration of the auction purchaser's sale certificate. Case-Laws Indian Laws Wed, 09 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399176