https://www.taxtmi.com/article/detailed?id=11079 The MSMED Act supplies a specialised mechanism for early payment, interest on delayed payments, and adjudication via Facilitation Councils with an overriding clause for Sections 15-23, but it does not create an express statutory priority over secured creditors. The SARFAESI Act contains a distinct enforcement code for security interests and, by Section 26E, an express registration-based priority for secured creditors. There is no repugnancy between the schemes; the SARFAESI Act's priority governs where a registered security interest exists, while MSMED remedies subsist as ordinary creditor claims. en-us Mon, 06 Feb 2023 09:51:06 +0530 Mon, 06 Feb 2023 09:51:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11079 The MSMED Act supplies a specialised mechanism for early payment, interest on delayed payments, and adjudication via Facilitation Councils with an overriding clause for Sections 15-23, but it does not create an express statutory priority over secured creditors. The SARFAESI Act contains a distinct enforcement code for security interests and, by Section 26E, an express registration-based priority for secured creditors. There is no repugnancy between the schemes; the SARFAESI Act's priority governs where a registered security interest exists, while MSMED remedies subsist as ordinary creditor claims. Articles Other Topics Mon, 06 Feb 2023 09:51:06 +0530 https://www.taxtmi.com/article/detailed?id=11079