Mortgage was not registered under Section 26-D of the SARFAESI Act - Affect

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Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (sarfaesi Act), Section 26-D, 26-E – Section 26-D provides that the secured creditor shall not be entitled to exercise rights of enforcement of securities under Chapter-III unless the security interest created in its favour by the borrower has been registered with the Central Registry – Even if the Petitioner’s mortgage was not registered under Section 26-D of the SARFAESI Act, in view of Section 31-B of the RDB Act, the alleged non registration, would not affect the legal position on the issue of priority – Mortgage of the secured creditor viz. the Petitioner Bank gets prior charge over the charge of the Respondents for tax/VAT dues.

Recovery of Debts and Bankruptcy Act , 1993 (RDB Act), Section 31-B

Maharashtra Value Added Tax Act, 2002 (MVAT Act), Section 37.

#2021 SCeJ 149 (Bom.)

Tags: 21.JUL.1 Mortgage not registered MVAT S. 37 RDDB S. 31-B Sarfaesi and Tax Act Sarfaesi S. 26-D Sarfaesi S. 26-E

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Mortgage was not registered under Section 26-D of the SARFAESI Act – Affect

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