https://www.taxtmi.com/caselaws?id=47632 Central excise dues take precedence over a secured creditor bank's security interest under the recovery framework described in Section 142 of the Customs and Central Excise Act. The stated position relies on Supreme Court authority recognising priority for statutory dues over secured creditors' claims. Payment of excise dues is to follow adjudication of the departmental demand, requiring the bank to satisfy the dues once determined. en-us Mon, 19 Dec 2005 00:00:00 +0530 Fri, 30 Jul 2010 10:18:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47632 Central excise dues take precedence over a secured creditor bank's security interest under the recovery framework described in Section 142 of the Customs and Central Excise Act. The stated position relies on Supreme Court authority recognising priority for statutory dues over secured creditors' claims. Payment of excise dues is to follow adjudication of the departmental demand, requiring the bank to satisfy the dues once determined. Case-Laws Central Excise Mon, 19 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47632