https://www.taxtmi.com/caselaws?id=300711 A secured creditor that has already invoked SARFAESI measures and taken possession of the mortgaged assets retains priority over recovery of gratuity dues sought as arrears of land revenue under the Payment of Gratuity Act. Section 26E of the SARFAESI framework gives the secured creditor a superior claim, and the social welfare character of gratuity legislation does not displace that priority in the absence of an overriding statutory provision. Accordingly, attachment of the secured assets cannot be sustained against property already in the creditor's possession, although the underlying recovery proceedings may continue against any surplus remaining after satisfaction of the secured debt. en-us Tue, 04 Dec 2018 00:00:00 +0530 Sun, 20 Feb 2022 21:42:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300711 A secured creditor that has already invoked SARFAESI measures and taken possession of the mortgaged assets retains priority over recovery of gratuity dues sought as arrears of land revenue under the Payment of Gratuity Act. Section 26E of the SARFAESI framework gives the secured creditor a superior claim, and the social welfare character of gratuity legislation does not displace that priority in the absence of an overriding statutory provision. Accordingly, attachment of the secured assets cannot be sustained against property already in the creditor's possession, although the underlying recovery proceedings may continue against any surplus remaining after satisfaction of the secured debt. Case-Laws Indian Laws Tue, 04 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300711