SARFAESI and RDB shall have overriding effect to HPVAT

Bhagwan Singh Vs State of Himachal (Himachal High Court) It is concluded that SARFAESI Act and RDB Act shall have overriding effect to provisions of HPVAT Act. Hence, the said property is to be permitted to be transferred in favour of petitioners free from all encumbrances in terms of E-aution. Facts- Petitioners are purchasers of property for consideration of Rs.3,71,50,000/- in an E-auction conducted by respondent No.5-Bank in proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short SARFAESI Act) for default in payme...