Secured Creditor will have precedence over Govt. Tax dues
Last updated: 10 September 2021
Court :
Supreme Court of India
Brief :
In Superintendent Central Excise & Customs v. M/S Kotak Mahindra Bank Ltd. and Anr. [Civil Appeal Nos. 6900-6901/2011 dated August 12, 2021], the current appeal has been filed after a decade since the last order dated January 03, 2011 by the Revenue to recover its dues from the property whose rights were given to M/S Kotak Mahindra Bank Ltd. ("the Respondent") under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("the SARFAESI Act").
Citation :
Civil Appeal Nos. 6900-6901/2011 dated August 12, 2021
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Bimal Jain
Published in LAW
Views : 132
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