https://www.taxtmi.com/caselaws?id=771544 Section 31-B of the Recovery of Debts and Bankruptcy Act, 1993 gives secured creditors priority to realise secured debts over other debts and Government dues, and Section 34 gives that regime overriding effect where inconsistent with other laws. In this statutory setting, the State's first-charge claim for VAT arrears under the A.P. Value Added Tax Act, 2005 yields to the bank's statutory priority over the secured asset. The earlier decision in Central Bank of India v. State of Kerala was distinguished because, at that time, the DRT framework did not contain an equivalent priority provision in favour of secured creditors. en-us Wed, 21 May 2025 00:00:00 +0530 Wed, 28 May 2025 08:26:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771544 Section 31-B of the Recovery of Debts and Bankruptcy Act, 1993 gives secured creditors priority to realise secured debts over other debts and Government dues, and Section 34 gives that regime overriding effect where inconsistent with other laws. In this statutory setting, the State's first-charge claim for VAT arrears under the A.P. Value Added Tax Act, 2005 yields to the bank's statutory priority over the secured asset. The earlier decision in Central Bank of India v. State of Kerala was distinguished because, at that time, the DRT framework did not contain an equivalent priority provision in favour of secured creditors. Case-Laws VAT / Sales Tax Wed, 21 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771544