TaxTMI 
TaxTMI 
2018 (4) TMI 1543
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....dvanced loan to the respondent No. 4 (who has thereafter been deleted) on securing equitable mortgage by way of deposit of title deeds in respect of the property bearing Sl. No. 242/IB/2 measuring 4 acres 5 guntas situated at Hanuman Hatti Village (Kajjani) in Ranebennur Taluk, Dharwad District. The petitioner in that light had initiated recovery proceedings in O.A. No. 702/1999 seeking to recover the said amount with interest. The said proceeding was under the Recovery of Debts Due To Banks And Financial Institutions Act, 1993 (for short the 'RDDB Act'). The Recovery Certificate has been issued by the Debt Recovery Tribunal as at Annexure 'D' to the petition. At that stage, the petitioner having noticed a publication made by the respondent....
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....thority has upheld the Order-in-Original dated 15-4-2009. Therefore, essentially what arises for consideration herein is the correctness or otherwise of the order at Annexure 'J' since such consideration made is pursuant to the direction that had been issued by this Court at the earlier point in time to take note of the contention, when the petitioner was before this Court. 5. In the above noticed background, the only question that arises for consideration in this petition is as to whether the case of the respondents of having precedence over the claim of the petitioner is sustainable and in that light whether the respondent should be permitted to bring the property belonging to respondent No. 4 for sale and recover the amount as or....
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....rovision either under the Central Excise Act or the Customs Act, to enable the Central Excise Department to claim a precedence over the claim of a secured creditor such as the respondent-Banks. On the other hand, under the provisions of the SARFAESI Act, the State Bank of Mysore having initiated proceedings thereunder, would clearly claim precedence insofar as enforcing its right is concerned. The precedence, vis-à-vis the State Bank of Mysore and the Hirekerur Urban Co-operative Bank is not the subject matter of this writ petition and is a matter to be resolved as between the said respondents as the same would involve questions of fact which are purely matters concerning the said respondents. The question insofar as the petitioner i....
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....of the Registration Act, 1908 would arise. It is held therein that if there was an intention to deposit the title deeds and create a charge over the property, that would be sufficient if the provisions as contained in Section 58(f) and Section 59 of the 1882 Act is kept in view. It is explained therein that the registration as contemplated under Section 17 of the Registration Act would arise only if a mortgage deed has been drawn out between the parties and not otherwise. If the position as explained is kept in view and the Order-in-Original which is impugned herein is taken note, the very observation as contained therein and the documents taken note would disclose that the petitioner herein does not claim that there is a mortgage deed exec....
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....0) 5 SCC 694. Having noticed the said decision, it is no doubt true held by the Hon'ble Supreme Court that the debts due to the Government would have a precedence over the dues claimed by any other entity including the Bank who claim to be the mortgagees of the said property. The said decision was rendered by the Hon'ble Supreme Court while it was considering the Doctrine of Priority by taking note of the provision as contained in Section 158(1) of the Karnataka Land Revenue Act. In the said circumstance a specific provision is contained therein that there would be precedence over mortgaged property as well, when there are claims made by the Government. 11. Insofar as the recovery as contemplated under the Central Excise Act or the ....