Bank Registered with CERSAI has Priority Over DCST against Proceeds of Enforcement under SARFAESI Act: Bombay HC [Read Order]

The court stated that any attachment sought to have been issued in respect of value-added tax and central sales tax dues owed by SMI, insofar as it relates to the Walkeshwar Flat, is quashed and set aside
Bombay high court - tax news - taxscan

The Bombay High Court has held that lender bank registration with the Central Registry of Securitisation and Security Interest of India (CERSAI) has priority over Deputy Commissioner of Sales Tax ( GST ) (DCST) against proceeds of enforcement under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( SARFAESI…

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