Supreme Court · 2023 INSC 1079 · Decided 7 December 2023
Punjab & Sind Bank v. The State of Punjab & ANR.
- Court
- Supreme Court of India
- Citation
- 2023 INSC 1079 · [2023] 15 S.C.R. 903
- Case number
- CIVIL APPEAL No. 6751/2023
- Decided
- 7 December 2023
- Bench
- ANIRUDDHA BOSE, SUDHANSHU DHULIA, AUGUSTINE GEORGE MASIH (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- SARFAESI Act Section 35, 13(2)
Headnote
HEADNOTES Issue for consideration: High Court whether justifi ed in sustaining the State's claim of priority in respect of dues under the Punjab Value Added Tax Act, 2005 of the Respondent no.2 (defaulting borrower), superseding the bank's claim based on over its immovable property. Punjab Value Added Tax Act, 2005 - s.35 - Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - s.35 - Implication - Claim of primacy over the assets of the defaulting borrower - Bank
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