https://www.taxtmi.com/caselaws?id=423533 Secured creditors' priority under the SARFAESI Act and the Recovery of Debts Due to Banks and Financial Institutions Act prevails over a State's claim of first charge for unpaid tax and electricity dues. Sections 26-E and 35 of the SARFAESI Act and Section 31-B of the RDDB Act confer overriding priority on secured debts, while the first charge under the Himachal Pradesh Value Added Tax Act must yield to the later Central enactments under Article 246(1). Revenue entries and departmental encumbrances could not defeat the prior secured interest and sale; the property was to be transferred and registered in favour of the purchasers free of the impugned encumbrances. en-us Tue, 31 May 2022 00:00:00 +0530 Wed, 08 Jun 2022 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423533 Secured creditors' priority under the SARFAESI Act and the Recovery of Debts Due to Banks and Financial Institutions Act prevails over a State's claim of first charge for unpaid tax and electricity dues. Sections 26-E and 35 of the SARFAESI Act and Section 31-B of the RDDB Act confer overriding priority on secured debts, while the first charge under the Himachal Pradesh Value Added Tax Act must yield to the later Central enactments under Article 246(1). Revenue entries and departmental encumbrances could not defeat the prior secured interest and sale; the property was to be transferred and registered in favour of the purchasers free of the impugned encumbrances. Case-Laws VAT and Sales Tax Tue, 31 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423533