Section 26C(2) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
(2)Where security interest or attachment order upon any property in favour of the secured creditor or any other creditor are filed for the purpose of registration under the provisions of Chapter IV and this Chapter, the claim of such secured creditor or other creditor holding attachment order shall have priority over any subsequent security interest created upon such property and any transfer by way of sale, lease or assignment or licence of such property or attachment order subsequent to such registration, shall be subject to such claim:Provided that nothing contained in this sub-section shall apply to transactions carried on by the borrower in the ordinary course of business.
