2023 (5) TMI 1314

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....le Ms. Justice Jyotsna Rewal Dua, Judge. For the petitioners : Mr. B.C. Negi, Sr. Advocate with Mr. Rajat Awasthi for the petitioner(s) in CWP No.2719 and 1295/2022. Mr. Ashok Sood, Sr. Advocate with Mr. Khem Raj, Advocate, for the petitioner in CWP No.7553/2022. Mr. Arvind Sharma, Advocate, for the petitioner in CWP No. 788/2023. For the respondents : Mr. Navlesh Verma, Additional Adv....

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.... "37. Secondly, coming to the issue of priority of secured creditor's debt over that of the Excise Department, the High court in the impugned judgment has held that "In view of the matter, the question of first charge or second charge over the properties would not arise." In this context, we are of the opinion that the High Court has misinterpreted the issue to state that the question of first ch....

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....e SARFAESI ACT, 2002, the Secured Creditor will have a First Charge on the Secured Assets. Moreover, Section 35 of the SARFAESI Act, 2002 inter alia, provides that the provisions of the SARFAESI Act, shall have overriding effect on all other laws. It is further pertinent to note that even the provisions contained in Section 11E of the Central Excise Act, 1944 are subject to the provisions containe....