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2020 (12) TMI 1287 - GUJARAT HIGH COURTSale of property by way of auction - account of the borrower was declared or classified as NPA - issue of notice under Section 13(2) of the SARFAESI Act - mortgaged properties were tried to be put on auction but the Bank failed - HELD THAT:- At this stage, Mr. Kavina pointed out that the law is well settled in view of the two pronouncements of this Court that the Bank will have precedence over the charge of the State in view of Section 26E of the SARFAESI Act. According to Mr. Kavina, the State may not be able to enforce such charge in view of the settled position of law, but in the process, the Bank will also loose its legitimate dues. Mr. Antani is requested to immediately get in touch with the authority concerned and discuss the matter. It should not happen that the State also fails in enforcing its charge, and at the same time, the Bank would also loose its legitimate dues. In other words, in this imbroglio, the public exchequer should not suffer. In the peculiar fact situation, we are adjourning this matter for tomorrow. The Registry shall prepare a Board and notify this matter for hearing Let this matter come up tomorrow for further hearing as a special case. Post the matter on 12th December, 2020.
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