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2014 (10) TMI 681 - HC - Central ExciseAttachment of the movable and immovable properties - priority over the rights - Preference to Banking company or Central Excise Department - Failure to pay amount due - Held that:- if the contention on behalf of the petitioner is accepted, in that case, Section 11(E) of the Central Excise Act, by which, there would be a statutory first charge over the properties of the defaulter in favour of the Central Government with respect to their excise dues would become redundant and / or nugatory. Under the circumstances, contention on behalf of the petitioner that despite Section 11(E) of the Act their right to recover dues of the borrower / mortgagee in exercise of powers under Section 29 of the SFC Act, cannot be accepted. - Decided against the appellant.
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