Recovery of dues (secured debt) - secured creditor has priority ...

VAT and Sales Tax

January 19, 2023

Recovery of dues (secured debt) - secured creditor has priority over the right claimed by the Revenue over secured debt or not - It is quite clear and evident from Section 26E of the SARFAESI Act 2002 that it creates only a priority in favour of the financial institutions in the matter of payment over all other debts and all revenues, taxes, cesses and other rates payable to the Central Government or the State Government or local authority. But the priority in payment is in no manner in conflict with the first charge created over the properties as per the provisions of the KGST Act, 1963, and the KVAT Act, 2003. - HC

View Source

← Previous Next →

Recovery of dues (secured debt) - secured creditor has priority ...

VAT and Sales Tax

January 19, 2023

You may also like:

Priority in recovering dues - Secured Creditors or Crown debt - secured creditor has preference over the dues of the Income Tax Department.... - HC

Recovery of tax dues - Attachment of assets - dues of MVAT Authorities’ have charge in priority to the secured creditors or not - This judgment reaffirms the supremacy...

Priority of settlement of claims - payment to secured creditors over tax dues - scope and ambit of Section 26(E) of The Securitization and Reconstruction of Financial...

Distribution of proceeds of Resolution Plan - Secured creditors - The conclusion of the committee is that the priority under Section 53(1)(b)(ii) shall be only to the...

Attachment of immovable properties ordered by PF organization - priority over the dues - Secured creditors (Banks) or PF organization - PF organization was within its...

Adjustment of Income tax Refund - Recovery of outstanding secured debts - recovery of service tax - priority of claims - n view of Sec.31-B of the Recovery of Debts and...

Recovery proceedings of tax dues - preferential right - secured creditors - Income Tax Department’s preferential right to recovery of debts over other creditors is...

Recovery of customs duty - warehoused goods - priority to recover dues - attachment of property - charge created by the second respondent Bank / financial institution,...

Recovery of dues - priority of settlement of dues - The State is a secured creditor under the GVAT Act. Section 3(30) of the IBC defines secured creditor to mean a...

Priority Charge - Seeking directions to remove the order of attachment over the property of the borrower, which according to the petitioner, is mortgaged and is a...

Quick Updates: