https://www.taxtmi.com/caselaws?id=446612 A secured creditor's prior mortgage and statutory protection under the SARFAESI Act were held to prevail over the State's excise-related revenue claim. The property had been mortgaged before the departmental entry was made, and the dispute concerned whether the State could assert first charge and block removal of the revenue entry, registration of the sale certificate and mutation after auction. Section 26E gave the secured creditor priority over other debts, revenues, taxes, cesses and rates, and Section 35 conferred overriding effect on the SARFAESI Act. The State's excise charge and revenue entry could not defeat the secured creditor's interest in the secured asset. en-us Fri, 24 Nov 2023 00:00:00 +0530 Thu, 07 Dec 2023 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446612 A secured creditor's prior mortgage and statutory protection under the SARFAESI Act were held to prevail over the State's excise-related revenue claim. The property had been mortgaged before the departmental entry was made, and the dispute concerned whether the State could assert first charge and block removal of the revenue entry, registration of the sale certificate and mutation after auction. Section 26E gave the secured creditor priority over other debts, revenues, taxes, cesses and rates, and Section 35 conferred overriding effect on the SARFAESI Act. The State's excise charge and revenue entry could not defeat the secured creditor's interest in the secured asset. Case-Laws Indian Laws Fri, 24 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446612