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Priority of Charge Over Secured Creditors – City Union Bank Limited vs TRO
Case Law Details
- Case Name
- City Union Bank Limited Vs Tax Recovery Officer (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madras High Court
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City Union Bank Limited Vs Tax Recovery Officer (Madras High Court)
Madras High Court clarifies charge priority in City Union Bank vs. Tax Recovery Officer case. First charge holder’s dues have precedence over tax recovery.
Introduction: The Madras High Court recently addressed the priority of charge over secured creditors in a case involving City Union Bank Limited and the Tax Recovery Officer. The petitioner sought to challenge an attachment order and sought direction for removal of the first respondent’s name from Encumbrance Certificate (EC) related to certain properties.
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