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TMI Blog2020 (2) TMI 1663X X X X Extracts X X X X X X X X Extracts X X X X ..... , 3, 4, 5, 6 and 7, 328/1, 2, 3, 4, 6 Nallur Village, Punjai Puliampatti, Sathyamangalam and 10.47 acres and building there on at Old SF Nos. 342/A2, 343 & 345, Nallur Village, Punjai Puliampatti, Sathyamangalam and entire plant & machinery used for spinning, such as, carding machines, draw, speed and spinning frames, comber machines, auto coner machines, compressors, humidification and power plant installations, generators and all other accessories used in spinning mills, have been auctioned on 23.01.2019 pursuant to an auction sale notice dated 29.12.2018. 2. The question of priority of charge has been considered by this Court in the case of The Assistant Commissioner (CT) Vs. The Indian Overseas Bank and Others in WP.Nos.2675, etc. batc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be prescribed. (3) A creditor other than the secured creditor filing particulars of transactions of creation, modification and satisfaction of security interest over properties created in its favour shall not be entitled to exercise any right of enforcement of securities under this Act. (4) Every authority or officer of the Central Government or any State Government or local authority, entrusted with the function of recovery of tax or other Government dues and for issuing any order for attachment of any property of any person liable to pay the tax or Government dues, shall file with the Central Registry such attachment order with particulars of the assessee and details of tax or other Government dues from such date as may be notified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that nothing contained in this sub-section shall apply to transactions carried on by the borrower in the ordinary course of business. 26D. Notwithstanding anything contained in any other law for the time being in force, from the date of commencement of the provisions of this Chapter, no secured creditor shall be entitled to exercise the rights of enforcement of securities under Chapter III unless the security interest created in its favour by the borrower has been registered with the Central Registry. 26E. Notwithstanding anything contained in any other law for the time being in force, after the registration of security interest, the debts due to any secured creditor shall be paid in priority over all other debts and all revenues, tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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