https://www.taxtmi.com/caselaws?id=415510 A later attachment cannot defeat rights created by a prior equitable mortgage, and it does not displace the secured creditor's priority where the property has already been sold in SARFAESI proceedings. The subsequent attachment therefore cannot affect title passed to the auction purchaser or justify directing deposit of the auction proceeds. Rateable distribution under Section 73 of the Code of Civil Procedure, 1908 is available only if the statutory preconditions are met, including a timely execution application and assets in court custody. Those conditions were not satisfied, so the claim for rateable distribution failed and the order requiring deposit of the auction amount was unsustainable. en-us Fri, 26 Nov 2021 00:00:00 +0530 Wed, 08 Dec 2021 08:55:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415510 A later attachment cannot defeat rights created by a prior equitable mortgage, and it does not displace the secured creditor's priority where the property has already been sold in SARFAESI proceedings. The subsequent attachment therefore cannot affect title passed to the auction purchaser or justify directing deposit of the auction proceeds. Rateable distribution under Section 73 of the Code of Civil Procedure, 1908 is available only if the statutory preconditions are met, including a timely execution application and assets in court custody. Those conditions were not satisfied, so the claim for rateable distribution failed and the order requiring deposit of the auction amount was unsustainable. Case-Laws Indian Laws Fri, 26 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415510