SC Rules EPF Dues Outrank Secured Creditors Despite SARFAESI Priority

Jalgaon District Central Coop. Bank Ltd. Vs State of Maharashtra and Ors. (Supreme Court of India) Provident Fund First, Bank Next —EPF First Charge Prevails Over SARFAESI Priority; Workmen’s Dues Not Prior to Secured Creditor The Supreme Court dealt with a long-pending dispute between Jalgaon District Central Cooperative Bank (a secured creditor) &  workmen of a sugar factory owned by a Cooperative Society whose assets had been mortgaged &  later taken over under the SARFAESI Act. The Bank argued that after registering its security interest under Section 23 & Section 26E of ...