Section 26E Overrides Rights for Recovering Tax Dues on Mortgaged Property

State Bank of India Vs State of Himachal Pradesh & Ors. (Himachal Pradesh High Court) Himachal Pradesh High Court held that the provisions of Section 26E of the Securitisation and Reconstructions of Financial Assets and Enforcement of Security Interest Act (SARFAESI) Act, 2002 shall override the rights of others to recover the outstanding liability of taxes dues etc on the mortgaged/charged property from the original owner etc. Facts- M/s Aradhna Wines had availed various financial assistance/loan facilities from the erstwhile State Bank of Patiala. One of its partners, Mr Anil Dogra, had ...