https://www.taxtmi.com/caselaws?id=750637 A prior security interest registered with CERSAI under SARFAESI takes priority over later State tax recovery claims. Section 26-E gives a secured creditor priority after registration, and Sections 26-B to 26-D treat that registration as constructive public notice. Section 37 of the Maharashtra Value Added Tax Act, 2002 creates a first charge only subject to a Central Act creating priority, so it cannot displace an earlier registered mortgage. Where the mortgage was registered in 2014 and tax attachment steps came later, the later recovery measures could not override the secured creditor's charge; the tax authorities were confined to any residual proceeds after satisfaction of the secured debt. en-us Thu, 21 Mar 2024 00:00:00 +0530 Tue, 26 Mar 2024 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750637 A prior security interest registered with CERSAI under SARFAESI takes priority over later State tax recovery claims. Section 26-E gives a secured creditor priority after registration, and Sections 26-B to 26-D treat that registration as constructive public notice. Section 37 of the Maharashtra Value Added Tax Act, 2002 creates a first charge only subject to a Central Act creating priority, so it cannot displace an earlier registered mortgage. Where the mortgage was registered in 2014 and tax attachment steps came later, the later recovery measures could not override the secured creditor's charge; the tax authorities were confined to any residual proceeds after satisfaction of the secured debt. Case-Laws VAT and Sales Tax Thu, 21 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750637