https://www.taxtmi.com/caselaws?id=303298 A customs attachment over property does not automatically override a bank's prior secured interest where no encumbrance or statutory first charge has been created in favour of the customs department. The text notes that the property was already subject to SARFAESI enforcement, the bank's charge predated the customs demand, and the earlier customs communication merely asked the Sub-Registrar not to entertain transfer. Section 26E of the SARFAESI Act gives priority to registered secured creditors over other debts, taxes and cesses, and the general principle is that Crown debts do not prevail absent a specific statutory first charge. On that basis, the customs attachment could not defeat the secured creditor's claim. en-us Tue, 12 Feb 2019 00:00:00 +0530 Tue, 12 Jul 2022 20:31:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303298 A customs attachment over property does not automatically override a bank's prior secured interest where no encumbrance or statutory first charge has been created in favour of the customs department. The text notes that the property was already subject to SARFAESI enforcement, the bank's charge predated the customs demand, and the earlier customs communication merely asked the Sub-Registrar not to entertain transfer. Section 26E of the SARFAESI Act gives priority to registered secured creditors over other debts, taxes and cesses, and the general principle is that Crown debts do not prevail absent a specific statutory first charge. On that basis, the customs attachment could not defeat the secured creditor's claim. Case-Laws Customs Tue, 12 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303298