State Cannot Claim Preference over secured Assets for recovery of Tax Dues

Axis Bank Limited Vs. State of Gujarat & 5 Others (Gujarat High Court)

It is the case of the bank that in accordance with the provisions of the SARFAESI Act, more particularly, Section-26E and also, in view of the two pronouncements of this High Court one in the case of Bank of India vs. State of Gujarat and others; and another in the case of Kalupur Commercial Co-operative Bank Ltd. vs. State of Gujarat, the bank will have the first precedence and the department cannot put forward its claim for th

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