https://www.taxtmi.com/caselaws?id=313619 Gujarat HC ruled in favor of petitioner bank against State Government regarding priority of charges over mortgaged property. Court held that bank's registered mortgage deed and encumbrance certificate established clear first charge over the property, taking precedence over State's VAT dues under VAT Act 2003. The court quashed the State's communication claiming first priority and declared bank has first priority over secured assets, allowing bank to proceed with auction to recover dues. en-us Tue, 29 Jun 2021 00:00:00 +0530 Thu, 25 Apr 2024 06:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313619 Gujarat HC ruled in favor of petitioner bank against State Government regarding priority of charges over mortgaged property. Court held that bank's registered mortgage deed and encumbrance certificate established clear first charge over the property, taking precedence over State's VAT dues under VAT Act 2003. The court quashed the State's communication claiming first priority and declared bank has first priority over secured assets, allowing bank to proceed with auction to recover dues. Case-Laws VAT and Sales Tax Tue, 29 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313619