https://www.taxtmi.com/caselaws?id=752991 The Bombay HC ruled that secured creditors have priority over State Tax Authorities' claims under Section 26-E of the SARFAESI Act, 2002. The petitioner bank registered its security interest with CERSAI on July 25, 2015, following mortgage creation on July 15, 2015. State Tax Authorities issued attachment orders only on February 11, 2021, without proper registration under Section 26-B(5). The court held that prior CERSAI registration grants secured creditors priority over government dues in asset sale proceeds. The petition was allowed. en-us Mon, 01 Apr 2024 00:00:00 +0530 Wed, 22 May 2024 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752991 The Bombay HC ruled that secured creditors have priority over State Tax Authorities' claims under Section 26-E of the SARFAESI Act, 2002. The petitioner bank registered its security interest with CERSAI on July 25, 2015, following mortgage creation on July 15, 2015. State Tax Authorities issued attachment orders only on February 11, 2021, without proper registration under Section 26-B(5). The court held that prior CERSAI registration grants secured creditors priority over government dues in asset sale proceeds. The petition was allowed. Case-Laws VAT and Sales Tax Mon, 01 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752991