https://www.taxtmi.com/caselaws?id=305593 Section 26E of the SARFAESI Act gives priority to a secured creditor only after the provision is brought into force by notification. The Court noted that the relevant amendment was not notified to commence Section 26E from 01.09.2016, so the earlier view that it had already operated from that date could not stand. It also held that Section 26E was not retrospective and could not unsettle recovery steps taken before its commencement. The prior finding on commencement was therefore set aside, while the secured creditor was left free to proceed in accordance with law. en-us Fri, 10 Jan 2020 00:00:00 +0530 Wed, 14 Dec 2022 09:06:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305593 Section 26E of the SARFAESI Act gives priority to a secured creditor only after the provision is brought into force by notification. The Court noted that the relevant amendment was not notified to commence Section 26E from 01.09.2016, so the earlier view that it had already operated from that date could not stand. It also held that Section 26E was not retrospective and could not unsettle recovery steps taken before its commencement. The prior finding on commencement was therefore set aside, while the secured creditor was left free to proceed in accordance with law. Case-Laws Indian Laws Fri, 10 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305593