SARFAESI Act prevails over inconsistent provisions in any other law: HP HC

Central Bank of India Vs State of Himachal Pradesh & Ors. (Himachal Pradesh high Court) The recent judgment by the Himachal Pradesh High Court in the case of Central Bank of India vs. State of Himachal Pradesh & Ors. sheds light on the priority and preference of a secured creditor, in this instance, a nationalized bank, over other claimants, particularly government departments seeking recovery of dues. The case involves the interpretation and application of relevant provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (S...