TMI Blog2018 (4) TMI 1319X X X X Extracts X X X X X X X X Extracts X X X X ..... the High Court by holding that the stage for enforcement of the charge would come only when the property is sold for recovery of the Central Excise dues and therefore, the issue raised with regard to the first charge on the property is pre-mature. The High Court was perfectly justified in coming to the impugned conclusion - The stage at which the remedy of the Financial Corporation may be invok ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, 1951 and sold the hypothecated property to one Subramaniam Shastri. The sale was approved by the Board of the Corporation; possession was handed over to the buyer and a conditional conveyance deed was also executed by reserving the first charge on the property until payment of all dues. In the meantime, on account of certain alleged Central Excise dues payable by the erstwhile owner-Sabhyata Pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the conditional conveyance deed, we are of the view that the High Court was perfectly justified in coming to the impugned conclusion. The stage at which the remedy of the Financial Corporation may be invoked, as pointed out by the High Court, adequately takes care of the grievance of the appellant. 5. We, therefore, decline to interfere with the order passed by the High Court and consequentl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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