https://www.taxtmi.com/caselaws?id=449144 A prior registered security interest under the SARFAESI framework takes precedence over subsequent governmental attachment or tax claims over the secured asset. Where enforcement is undertaken under SARFAESI and the security interest is registered with CERSAI, a revenue authority must register its own claim to preserve any competing interest; failure to do so is fatal to its claim against the secured asset. The departmental attachment cannot displace the secured creditor's enforcement rights, and the creditor may proceed with sale and appropriation of proceeds, subject to remittance of any surplus to the revenue authority. en-us Mon, 22 Jan 2024 00:00:00 +0530 Tue, 06 Feb 2024 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449144 A prior registered security interest under the SARFAESI framework takes precedence over subsequent governmental attachment or tax claims over the secured asset. Where enforcement is undertaken under SARFAESI and the security interest is registered with CERSAI, a revenue authority must register its own claim to preserve any competing interest; failure to do so is fatal to its claim against the secured asset. The departmental attachment cannot displace the secured creditor's enforcement rights, and the creditor may proceed with sale and appropriation of proceeds, subject to remittance of any surplus to the revenue authority. Case-Laws VAT and Sales Tax Mon, 22 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449144