https://www.taxtmi.com/caselaws?id=779152 A municipal taxing statute that creates an express first charge on immovable property gives rise to a statutory charge sufficient to confer secured creditor status in liquidation. Property tax dues under Section 232 of the Kolkata Municipal Corporation Act, 1980 were therefore treated as secured claims rather than mere government dues, because dues payable to a local authority are not automatically confined to the liquidation category of Central or State Government dues. The earlier view relied on by the liquidator was distinguished, and the rejection of secured status was set aside. en-us Fri, 26 Sep 2025 00:00:00 +0530 Tue, 30 Sep 2025 08:30:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779152 A municipal taxing statute that creates an express first charge on immovable property gives rise to a statutory charge sufficient to confer secured creditor status in liquidation. Property tax dues under Section 232 of the Kolkata Municipal Corporation Act, 1980 were therefore treated as secured claims rather than mere government dues, because dues payable to a local authority are not automatically confined to the liquidation category of Central or State Government dues. The earlier view relied on by the liquidator was distinguished, and the rejection of secured status was set aside. Case-Laws IBC Fri, 26 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779152