Secured Creditor Under SARFAESI Act Has Priority Over CGST Dues: Calcutta HC

CFM Asset Reconstruction Pvt. Ltd. Vs Assistant Commissioner CGST (Calcutta High Court)

In a significant ruling, the High Court of Calcutta, presided over by Justice Raja Basu Chowdhury, has affirmed the priority of secured creditors under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) over statutory dues under the Central Goods & Services Tax Act, 2017 (CGST Act). The judgment, delivered in the case of CFM Asset Reconstruction Pvt. Ltd. & Ors. v. Assistant Commissioner CGST and C. Ex. & Ors. (WPA

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