Secured creditor obtains priority over right claimed by Revenue

State Bank of India Vs State of Kerala Rep (Kerala High Court)

Kerala High Court held that a secured creditor, under Section 26E of the SARFAESI Act and Section 31B of the RDB Act, obtains priority over the right claimed by the Revenue both in proceeding against the properties in question or in recovering the secured debt.

Facts- These writ petitions, save five, have been filed by various Banks and Financial Institutions challenging the action of the State’s Revenue

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