Provisions of SARFAESI Act prevails over Chhattisgarh Audhyogik Bhoomi Avam Bhawan Prabandhan Nigam 2015

Parth Concast Ltd. Vs State of Chhattisgarh (Chhattisgarh High Court) Chhattisgarh High Court held that the provisions contained in SARFAESI Act will prevail over Rules of 2015. Accordingly, the demand of transfer fee made by the CSIDC is not sustainable in law. Facts- The petitioner is a Company engaged in the business of producing steel and iron products. The Chhattisgarh State Industrial Development Corporation Limited (CSIDC) had allotted four parcels of land situated at the Industrial Development Center to M/s Brahaspati Iron and Steel Company Private Limited (BISCPL), which is engaged in...