Recoveries under SARFAESI Act prevail over recoveries under MSMED Act: SC

Kotak Mahindra Bank Limited Vs Girnar Corrugators Pvt. Ltd. & Ors. (Supreme Court of India) Conclusion: The Hon’ble Supreme Court observed that MSMED Act does not provide any priority over the debt dues of the secured creditor akin to Section 26E of the SARFAESI Act. Further, it was held that so far as recoveries under the SARFAESI Act with respect to the secured assets would prevail over the recoveries under the MSMED Act to recover the amount under the award / decree passed by the Facilitation Council. Facts: Feeling aggrieved by and dissatisfied with the impugned judgment and order pa...