https://www.taxtmi.com/caselaws?id=424292 The court ruled in favor of the bank petitioner, quashing the communication interrupting auction proceedings under the SARFAESI Act related to the respondent's property. The court recognized the bank's first charge over the property, citing legal principles established by the Apex Court regarding the priority of Central Excise dues over Secured Creditors. The respondents acknowledged the bank's first charge, leading to the court declaring the interruption illegal and without jurisdiction. The court directed the respondents not to obstruct the auction and sale of the property, concluding the matter without imposing costs. en-us Thu, 28 Apr 2022 00:00:00 +0530 Mon, 27 Jun 2022 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424292 The court ruled in favor of the bank petitioner, quashing the communication interrupting auction proceedings under the SARFAESI Act related to the respondent's property. The court recognized the bank's first charge over the property, citing legal principles established by the Apex Court regarding the priority of Central Excise dues over Secured Creditors. The respondents acknowledged the bank's first charge, leading to the court declaring the interruption illegal and without jurisdiction. The court directed the respondents not to obstruct the auction and sale of the property, concluding the matter without imposing costs. Case-Laws Central Excise Thu, 28 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424292