https://www.taxtmi.com/caselaws?id=420336 A registered security interest created under the SARFAESI Act has priority over a later State tax attachment where the charge is registered before recovery action begins. Section 26E gives secured debts priority over other debts, including State tax claims, once registration is complete. A State statutory first charge under the Karnataka Value Added Tax Act cannot displace an earlier registered secured creditor's interest. Where the State has not enforced any superior claim before that priority attaches, the later attachment must yield and revenue entries must reflect the secured creditor's precedence. en-us Wed, 09 Feb 2022 00:00:00 +0530 Fri, 01 Apr 2022 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420336 A registered security interest created under the SARFAESI Act has priority over a later State tax attachment where the charge is registered before recovery action begins. Section 26E gives secured debts priority over other debts, including State tax claims, once registration is complete. A State statutory first charge under the Karnataka Value Added Tax Act cannot displace an earlier registered secured creditor's interest. Where the State has not enforced any superior claim before that priority attaches, the later attachment must yield and revenue entries must reflect the secured creditor's precedence. Case-Laws VAT and Sales Tax Wed, 09 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420336