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2014 (11) TMI 623 - MADRAS HIGH COURTForbearance of second respondent from selling the properties owned by both the first respondent company - Payment of duty due on first Respondents - Held that:- Dues payable to the Central Excise Department do not have any precedence over the right of a secured creditor. The secured creditor viz., the second respondent herein has come into the picture pursuant to various deeds of assignment executed in their favour. Therefore, the only remedy available to the petitioner / Central Excise Department is to approach the third respondent / Official Liquidator and place their claims before the Official Liquidator, so that the claim can be adjudicated and the Official Liquidator in turn can issue notice to the defaulters as well as to the second respondent and adjudicate the matter. In such circumstances, the petitioner cannot prevent the second respondent, the secured creditor, from proceeding further. - petitioner is directed to file claim petitions, before the Official Liquidator, which shall be adjudicated by the Official Liquidator, after issuing notice to the respondents - Decided against Revenue.
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