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TMI Blog2023 (2) TMI 1291X X X X Extracts X X X X X X X X Extracts X X X X ..... the SARFAESI Act. Therefore, learned counsel for the Petitioner is right in contending that the Petitioner would have the overriding priority over the charge of Respondent Custom Authorities. Petitioner states that the Petitioner bank would proceed to take measures under the SARFAESI Act and if any amount remains balance after satisfying the claim of Petitioner, the Petitioner is under a duty to distribute the balance amount as per the claims received. The statement made by learned counsel for the Petitioner on instructions is accepted - the Petitioner is permitted to proceed to take measures under the SARFAESI Act in respect of the property in question. The Petitioner Bank will, if such a request is received from the Respondent Custom Auth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ontention relied upon the following decisions : 1] Punjab National Bank vs. Union of India Ors [(2022) 7 SCC 260]. 2] Jalgaon Janta Sahakar Bank vs. Jt. Commissioner of Sales Tax [(2022) 5 BCR 409]. 3] UTI Bank Ltd vs. Dy. Commissioner of Central Excise Chennai [AIR-2007 Mad 118]. 4] Tahsildar (RR) Taluk Office, Kollam Ors. vs. Nizamudeen S. Ors. [SCC Online 2023 KER 150]. 5] Krishna Lifestyle Technologies Ltd vs. Union of India [2009 (Supp.) BCR 203]. 6] M/s. Mani Laxmi Metal Alloys Pvt. Ltd vs. State of Gujarat [AIR Online 2022 Guj 1155]. 5. Since the Respondent Custom Authorities are proceeding under the provisions of Customs Act, 1962, section 142A of the Customs Act, 1962 will have to be noticed. Section 142A reads thus : Section 142A. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nditions if the Petitioner is proceeding to take measures under the SARFAESI Act to sell the property in question, so that, if any amount is balance over and above the claim of Petitioner, the other parties who may have claims, such as the Respondent Custom Authorities, would not be prejudiced. 8. Learned counsel for the Petitioner states that the Petitioner bank would proceed to take measures under the SARFAESI Act and if any amount remains balance after satisfying the claim of Petitioner, the Petitioner is under a duty to distribute the balance amount as per the claims received. The statement made by learned counsel for the Petitioner on instructions is accepted. We permit the Petitioner to proceed to take measures under the SARFAESI Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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