TMI Blog2021 (7) TMI 1353X X X X Extracts X X X X X X X X Extracts X X X X ..... the debts due from the private respondent(s) and the respondent Department cannot claim first charge over secured assets of the petitioner belonging to the private respondents, as the petitioner has first charge over the secured assets, in view of the provisions of the SARFAESI Act 2002 and Recovery of Debts and Bankruptcy Act, 1993, as amended from time to time. It is further held that the provisions of Section 26 of the H.P. VAT Act, 2005 shall have to give way to the provisions of Section 26E of the SARFAESI Act 2002 and Section 31B of the RDB Act, 1993. Application disposed off. - CWP No. 2491 of 2020 - - - Dated:- 23-7-2021 - Mr. Ajay Mohan Goel, J. For the Petitioner: Mr. Hem Singh Thakur, Advocate. For the Responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esh and others, this writ petition can be disposed of by observing that the findings returned in para 36 of the said writ petition shall mutatis mutandis apply to the present petition also. In other words, learned counsel submitted that this petition be disposed of by holding that petitioner being Secured Creditor , has preference over the respondent State with regard to the debts due from the private respondent(s) and the respondent Department cannot claim first charge over secured assets of the petitioner belonging to the private respondents, as the petitioner has first charge over the secured assets, in view of the provisions of the SARFAESI Act 2002 and Recovery of Debts and Bankruptcy Act, 1993, as amended from time to time. He submi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e petitioner as to whether it is the Secured Creditor or the Revenue , which has preference over the debts due to the Banks and Financial Institutions and this Court has not adjudicated any rights or disputes intra the petitioner Bank and the private respondent(s). 6. To make it more clear, this writ petition is disposed of by holding that the findings returned in CWP No. 1638 of 2017 (supra) shall mutatis mutandis apply to this petition also and the petitioner being Secured Creditor , has preference over the respondent State with regard to the debts due from the private respondent(s) and the respondent Department cannot claim first charge over secured assets of the petitioner belonging to the private respondents, as the petitioner h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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