https://www.taxtmi.com/caselaws?id=795458 Section 31B of the Recovery of Debts and Bankruptcy Act, 1993 gives secured creditors priority in recovering debts through the sale of secured assets over other debts and Government dues, including State VAT liabilities. Where the bank's security interest and auction sale under the RDB Act predated the VAT charge, the later-recorded charge could not survive against the auction purchasers' title. The VAT charge was therefore required to be removed from the revenue records, preserving title acquired through the secured creditor's auction sale. en-us Tue, 07 Jul 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795458 Section 31B of the Recovery of Debts and Bankruptcy Act, 1993 gives secured creditors priority in recovering debts through the sale of secured assets over other debts and Government dues, including State VAT liabilities. Where the bank's security interest and auction sale under the RDB Act predated the VAT charge, the later-recorded charge could not survive against the auction purchasers' title. The VAT charge was therefore required to be removed from the revenue records, preserving title acquired through the secured creditor's auction sale. Case-Laws VAT / Sales Tax Tue, 07 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795458