https://www.taxtmi.com/highlights?id=79964 Debts due to secured creditors under SARFAESI Act have priority over debts under FEMA. SARFAESI Act being a later enactment prevails over earlier FEMA. SARFAESI Act overrides provisions of FEMA and secured creditor's dues prevail over FEMA dues. Section 37A of FEMA being prospective cannot apply to property already mortgaged before its enactment. Under RDBI Act, secured creditor's claim has priority over FEMA dues. FEMA dues payable to government covered under provisions granting priority to secured creditors. Availability of appeal remedy does not oust writ jurisdiction. Impugned order attaching mortgaged property for FEMA dues quashed. Property to be released to secured creditor. en-us Wed, 31 Jul 2024 08:35:47 +0530 Thu, 15 Aug 2024 13:35:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79964 Debts due to secured creditors under SARFAESI Act have priority over debts under FEMA. SARFAESI Act being a later enactment prevails over earlier FEMA. SARFAESI Act overrides provisions of FEMA and secured creditor's dues prevail over FEMA dues. Section 37A of FEMA being prospective cannot apply to property already mortgaged before its enactment. Under RDBI Act, secured creditor's claim has priority over FEMA dues. FEMA dues payable to government covered under provisions granting priority to secured creditors. Availability of appeal remedy does not oust writ jurisdiction. Impugned order attaching mortgaged property for FEMA dues quashed. Property to be released to secured creditor. Highlights FEMA Wed, 31 Jul 2024 08:35:47 +0530 https://www.taxtmi.com/highlights?id=79964