2024 (9) TMI 831

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....the order of attachment dated 27/06/2016 issued by the first respondent- Deputy Commissioner of Sales Tax under Section 34 of the Maharashtra Value Added Tax Act, 2002 (for short, "the Act of 2002") alongwith a notice dated 19/07/2016 issued in that regard. The principal contention of the petitioner is that in view of provisions of Section 26 (E) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 it has prior charge over the secured asset especially in view of the fact that such interest has been created in favour of the Co-operative Bank pursuant to mortgage deed dated 27/11/2012 executed in its favour. To recover its dues, the Cooperative Bank issued notice under Section 13 (2) of t....

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....ied with. Simply ordering an attachment is not enough; a proclamation has to be issued in the prescribed form and such proclamation must be made public by beating of drum and such other mode as specified in section 192 of the MLR Code and rule 11(2) of the 1967 Rules before the property attached is sold. 154. We are of the considered opinion, on facts and in the circumstances, that unless attachment of the defaulter's immovable property is ordered in the manner ordained by the MLR Code and as prescribed by the MRLR Rules and due proclamation thereof is made, even the creation of charge on such immovable property may not be of any real significance, not to speak of demonstrating with reference to evidence that the transferee had....