Recovery of Debts and Bankruptcy Act , 1993 (RDB Act), Section 31-B – Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002 (sarfaesi Act), Section 26-D, 26-E – Maharashtra Value Added tax Act, 2002 (MVAT Act), Section 37 – If any Central Statute creates priority of a charge in favour of a secured creditor, the same will rank above the charge in favour of a State for a tax due under the Value Added Tax of the State .
It’s hard to come by educated people in this particular subject,
however, you seem like you know what you’re talking about!
Thanks
The law on this subject is still developing….early days
Team PLR