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1 - 6 of 6 (0.63 seconds)Section 26E in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
The Karnataka Value Added Tax Act, 2003
Section 13 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
Hdfc Bank Ltd vs Sub Registrar on 1 February, 2021
5. I have considered the submissions advanced and have
WP(C) NO. 8653 OF 2021 4
perused the records. Section 26E of the SARFAESI Act grants priority to
secured creditors after the registration of the security interest, and the
debts due to any secured creditor shall be paid in priority over all other
debts, revenues, taxes, cesses and other rates payable to the Central
Government or State Government or local authority. The rights and
liberties conferred on the creditor/bank by virtue of mortgage created and
the right to proceed under the relevant provisions of the SARFAESI Act
cannot be defeated because of the subsequent attachments ordered by
the Civil Court (see HDFC v. Sub Registry Officer [2011 KHC 851] and
Madhan v. Sub Registrar [2014 (1) KLT 406]).
Travancore Devaswom Board - Tdb vs Deputy Examiner For Local Fund Audit on 18 June, 2021
In TDB v Deputy
Examiner, Local Fund Audit and Others, [2020 (3) KHC 129] a
Division Bench of this Court had occasion to observe that the sale carried
out either under the SARFAESI Act or under the RDB Act takes
precedence even over the statutory charges due to the Government
created under KVAT Act or under other State Enactments after the
Amendment Act of 2016. A secured creditor in whose favour a security
interest has been created thus has priority in sale and payment over all
other statutory charge holders. In that view of the matter, the petitioner
is entitled to succeed.
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