TaxTMI 
TaxTMI 
2026 (1) TMI 1503
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....ns notices were issued on 19/01/2026 for final disposal and it was directed that the Petitions shall be taken up today. 2. While issuing notices for final disposal, this Court took note of the contention of the Petitioner-Bharat Co Operative Bank Mumbai Ltd in both these petitions that the Writ Petitions deserve to be allowed in the light of law laid down by the full bench of this Court in the case of "Jalgaon Janta Sahakari Bank Ltd. & Anr. vs. Joint Commissioner of Sales Tax Nodal 9, Mumbai, & Anr." (2022) SCC online Bom 1767. 3. Considering the prayers made in the Writ Petitions, we find that the contesting respondents are only Respondent Nos. 1 to 3 in both the petitions. These are State Authorities and the relief sought in the Wr....
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.... insofar as Writ Petition (L) No. 172 of 2026 is concerned, were all duly registered with the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) on 03/10/2016 and 06/11/2018. The record shows that the said assertion made on behalf of the Petition-Bank cannot be disputed. The demand notices in Writ Petition (L) No. 172 of 2026 were issued on 13/02/2025 and 25/03/2026 at Exhibits 'A' and 'B' and a letter dated 14/07/2025 was issued (Exhibit-C) by Respondent No. 2 i.e. Assistant Commissioner of State Tax (Mulund) to the society where the immovable property is located, instructing the office bearer of the housing society not to issue NOC in respect of the said property. The contesting Respondent Nos.....
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....bank and dues under MVAT, which is concerned with a state legislation, the ratio would not apply and the aforesaid Writ Petition bearing (L) 172 of 2026 ought not to be entertained by this Court. 10. Insofar as Writ Petition (L) No. 446 of 2026 is concerned, it was submitted that since the dues concern MVAT, the full bench judgment would obviously apply and that appropriate orders can be passed by this Court. 11. In order to appreciate the specific contention of the learned AGP concerning Writ Petition (L) No. 172 of 2026, it would be necessary to refer to the relevant portion of the full bench judgment in the case of "Jalgaon Janta Sahakari Bank Ltd. & Anr. vs. Joint Commissioner of Sales Tax Nodal 9, Mumbai, & Anr (supra). 12. It....
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....ere proceedings are pending under the provisions of the Insolvency and Bankruptcy Code, 2016. 79......... 80......... 81......... 82......... 83......... 84......... 85. Priority means precedence or going before (Black's Law Dictionary). In the present context, it would mean the right to enforce a claim in preference to others. In view of the splurge of 'first charge' used in multiple legislation, the Parliament advisedly used the word 'priority over all other dues' in the SARFAESI Act to obviate any confusion as to inter-se distribution of proceeds received from sale of properties of the borrower/dealer. If a secured asset has been disposed of by sale by taking recourse to the ....