https://www.taxtmi.com/caselaws?id=297319 After registration of a security interest, a secured creditor's statutory priority under Section 26E of the SARFAESI Act and Section 31B of the Recovery of Debts and Bankruptcy Act prevails over Government dues. The Andhra Pradesh HC rejected the revenue authorities' attachment and auction proceedings, holding that crown debt and objections based on the timing or assignment of the debt did not displace the secured creditor's priority. The impugned revenue notices were therefore unsustainable, and the writ petition succeeded in protecting the secured interest in the mortgaged property. en-us Tue, 08 Dec 2020 00:00:00 +0530 Thu, 26 Aug 2021 21:37:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297319 After registration of a security interest, a secured creditor's statutory priority under Section 26E of the SARFAESI Act and Section 31B of the Recovery of Debts and Bankruptcy Act prevails over Government dues. The Andhra Pradesh HC rejected the revenue authorities' attachment and auction proceedings, holding that crown debt and objections based on the timing or assignment of the debt did not displace the secured creditor's priority. The impugned revenue notices were therefore unsustainable, and the writ petition succeeded in protecting the secured interest in the mortgaged property. Case-Laws Indian Laws Tue, 08 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297319