SARFAESI Act Prevails Over Income and other Tax Claims: Madras HC

Sarulatha Mani Mudaliyar Vs Tax Recovery Officer (Madras High Court) A recent judgment by the Madras High Court in the case of Sarulatha Mani Mudaliyar Vs Tax Recovery Officer has reaffirmed the precedence of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act over tax claims. The court directed the registration of a property sale certificate, previously stalled due to an Income Tax Department attachment. The petitioner in this writ petition challenged a letter dated December 17, 2015, issued by the Tax Recovery Officer to the Sub Regis...