Invent Assets Securitisation And Reconstruction Pvt. Ltd. ( Invent) v. State Of Maharashtra Thru The Deputy Commissioner Of Sales Tax, And ANR

(12)-WP-1371-19.doc.

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO.1371 OF 2019 Invent Assets Securitisation & Reconstruction Pvt. Ltd.

..Petitioner

Versus

State of Maharashtra & Anr.

..Respondents Ms. Vidisha Rohira a/w Ms. Priyanka Fadia i/by Mr. Shashank Fadia, Advocates for the Petitioner.

Mr. Vikas Mali, AGP for Respondent Nos.1 & 2. CORAM : PRADEEP NANDRAJOG, C.J. & SMT. BHARATI DANGRE, J.

DATE : 16th JANUARY, 2020 P.C.

1] The issue of priority of interest of secured creditors vis-avis sales tax dues concerning proceedings initiated under SARFAESI Act, 2002 has been decided by this Bench on 13th December 2019 in Writ Petition No.1039 of 2017 ASREC (I) Ltd. Vs. State of Maharashtra and Ors.

2] Notwithstanding Section 26E of the SARFESI Act, 2002 not being brought into force but pari materia provision being Section 31B of the RDB Act, 1993 being in force, it was held that a secured creditor would have priority of charge over the secured asset vis-a-vis tax dues.

BGP.

(12)-WP-1371-19.doc.

3] Thus, the Writ Petition is disposed of in terms of prayer (a) in the Writ Petition.

4] No costs.

SMT. BHARATI DANGRE, J CHIEF JUSTICE Digitally signed by Balaji G.

Panchal Date:

2020.01.17 11:15:50 +0530 Balaji G.

Panchal BGP.