https://www.taxtmi.com/caselaws?id=313450 The HC ruled that the secured creditor under the SARFAESI Act had priority over the Custom Authorities' claim under the Customs Act, 1962. The Court determined that section 142A of the Customs Act does not override the SARFAESI Act's provisions. Consequently, the secured creditor was allowed to proceed with the sale of the property, with the assurance that any remaining proceeds after satisfying their claim would be distributed according to other claims. The Custom Authorities were to be informed of the sale actions and proceeds, and the writ petition was disposed of, leaving other claimants' remedies intact. en-us Fri, 24 Feb 2023 00:00:00 +0530 Tue, 16 Apr 2024 06:00:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313450 The HC ruled that the secured creditor under the SARFAESI Act had priority over the Custom Authorities' claim under the Customs Act, 1962. The Court determined that section 142A of the Customs Act does not override the SARFAESI Act's provisions. Consequently, the secured creditor was allowed to proceed with the sale of the property, with the assurance that any remaining proceeds after satisfying their claim would be distributed according to other claims. The Custom Authorities were to be informed of the sale actions and proceeds, and the writ petition was disposed of, leaving other claimants' remedies intact. Case-Laws Customs Fri, 24 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313450