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TMI Blog2016 (12) TMI 373X X X X Extracts X X X X X X X X Extracts X X X X ..... ortgaged property in question, with regard to the tax and other dues? - Held that:- Considering the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016, Section 41 of the same seeking to introduce Section 31B in the Principal Act, there is, thus, no doubt that the rights of a secured creditor to realise secured debts due and payable by sal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uance to the rights exercised by the secured creditor having a mortgage of the property. This aspect is also covered by the introduction of Section 31B, as it includes ''secured debts due and payable to them by sale of assets over which security interest is created''. - W.P. Nos.2675, 253 and 9750 of 2011, 46458 of 2002, 27409 and 31060 of 2005, 6267 and 469 of 2006, 21496 of 2008, 21358 of 2009 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the mortgaged property in question.'' 2. We are of the view that if there was at all any doubt, the same stands resolved by view of the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016, Section 41 of the same seeking to introduce Section 31B in the Principal Act, which reads as under:- ''31B. Notwithstanding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hus, no doubt that the rights of a secured creditor to realise secured debts due and payable by sale of assets over which security interest is created, would have priority over all debts and Government dues including revenues, taxes, cesses and rates due to the Central Government, State Government or Local Authority. This section introduced in the Central Act is with ''notwithstanding' ..... X X X X Extracts X X X X X X X X Extracts X X X X
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