https://www.taxtmi.com/caselaws?id=759630 A mortgage created in favour of a secured creditor before tax recovery steps was held to attract statutory priority under Section 26E of the SARFAESI Act, so the secured debt ranked ahead of later government recovery action. The Court applied the rule that, where special enactments conflict, the later law with an overriding priority provision prevails, and relied on the corresponding priority under Section 31B of the RDDB Act. It also noted that the presence of an alternative remedy under FEMA did not bar writ jurisdiction where the impugned order was without jurisdiction. The attachment of the mortgaged property was therefore not sustainable and was liable to be quashed. en-us Tue, 17 Sep 2024 00:00:00 +0530 Fri, 04 Oct 2024 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759630 A mortgage created in favour of a secured creditor before tax recovery steps was held to attract statutory priority under Section 26E of the SARFAESI Act, so the secured debt ranked ahead of later government recovery action. The Court applied the rule that, where special enactments conflict, the later law with an overriding priority provision prevails, and relied on the corresponding priority under Section 31B of the RDDB Act. It also noted that the presence of an alternative remedy under FEMA did not bar writ jurisdiction where the impugned order was without jurisdiction. The attachment of the mortgaged property was therefore not sustainable and was liable to be quashed. Case-Laws FEMA Tue, 17 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759630