Section 26E of SARFAESI Act and Section 34 of RDB Act will prevail over section 24 of TNGST Act

Indian Bank Vs Commercial Tax Officer (Madras High Court) Madras High Court held that provisions of Section 26E of the SARFAESI Act and Section 34 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) would prevail over the provisions of Section 24 of the Tamil Nadu General Sales Tax Act, 1959 (TNGST Act). Facts- The petitioner is a Nationalised Bank and had sanctioned secured overdraft facilities to the assessees and a loan to the assessee. On 14.08.1990, as a collateral, the assessees created an equitable mortgage over their half undivided share of the land ad-measuring 1 ground and ...