https://www.taxtmi.com/caselaws?id=761213 A prior registered security interest of a bank prevails over a later-created State charge under the SARFAESI regime, including the priority recognised by Section 26E. Where the bank's charge was created earlier, the subsequent State charge and consequential mutation entries could not displace that superior secured interest. The auction purchaser was therefore entitled to take the property subject to the bank's prior charge. On that basis, the impugned administrative orders creating the State charge and the related revenue entries were set aside. en-us Wed, 23 Oct 2024 00:00:00 +0530 Thu, 07 Nov 2024 08:47:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761213 A prior registered security interest of a bank prevails over a later-created State charge under the SARFAESI regime, including the priority recognised by Section 26E. Where the bank's charge was created earlier, the subsequent State charge and consequential mutation entries could not displace that superior secured interest. The auction purchaser was therefore entitled to take the property subject to the bank's prior charge. On that basis, the impugned administrative orders creating the State charge and the related revenue entries were set aside. Case-Laws VAT / Sales Tax Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761213