https://www.taxtmi.com/caselaws?id=48281 The court dismissed the writ petition filed by Punjab National Bank challenging the confiscation orders issued by the Customs & Central Excise authorities regarding properties mortgaged by M/s. Rathi Ispat Ltd. The court affirmed that once property is confiscated, it belongs to the State, overriding any claims by individuals or entities. The judgment highlighted the priority of the State's confiscation over creditor charges and emphasized that the bank's actions would depend on the outcome of M/s. Rathi Ispat Ltd.'s appeal against the confiscation orders under the Securitization Act. en-us Tue, 05 Aug 2008 00:00:00 +0530 Tue, 02 Dec 2014 18:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48281 The court dismissed the writ petition filed by Punjab National Bank challenging the confiscation orders issued by the Customs & Central Excise authorities regarding properties mortgaged by M/s. Rathi Ispat Ltd. The court affirmed that once property is confiscated, it belongs to the State, overriding any claims by individuals or entities. The judgment highlighted the priority of the State's confiscation over creditor charges and emphasized that the bank's actions would depend on the outcome of M/s. Rathi Ispat Ltd.'s appeal against the confiscation orders under the Securitization Act. Case-Laws Customs Tue, 05 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48281