https://www.taxtmi.com/caselaws?id=446515 A prior secured interest created by deposit of title deeds and a later SARFAESI sale can prevail over a customs attachment when the customs law does not create a statutory first charge. The secured creditor's priority was recognised under Section 26E of the SARFAESI Act, and the purchaser's title was treated as protected where no effective attachment entry appeared in the encumbrance register. The contention that the mortgage was invalid for want of registration was rejected because a deposit of title deeds mortgage remained valid under the applicable registration regime. On these principles, the customs claim could not displace the earlier secured debt. en-us Tue, 28 Nov 2023 00:00:00 +0530 Wed, 06 Dec 2023 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446515 A prior secured interest created by deposit of title deeds and a later SARFAESI sale can prevail over a customs attachment when the customs law does not create a statutory first charge. The secured creditor's priority was recognised under Section 26E of the SARFAESI Act, and the purchaser's title was treated as protected where no effective attachment entry appeared in the encumbrance register. The contention that the mortgage was invalid for want of registration was rejected because a deposit of title deeds mortgage remained valid under the applicable registration regime. On these principles, the customs claim could not displace the earlier secured debt. Case-Laws Customs Tue, 28 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446515