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TMI Blog2020 (3) TMI 1479X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of the secured interest for satisfying the debts of the secured creditors shall prevail over all other dues including the decretal dues under the decrees passed by the Civil Courts and the Government dues like taxes, cesses etc. The purpose of enacting this special provisions with non obstante clause is obvious i.e., to give them an overriding effect over the dues of other persons or Departments. Therefore, the dues under a decree held to the Appellant/TANFED has to take a back seat behind the secured interest claimed by the financial institutions or his assignee like ARCIL in the present case. Therefore, there is no iota of doubt that the learned Single Judge was justified in lifting or raising or removing the attachment over the secu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e for lifting the said attachment in favour of the ARCIL was on the anvil of Section 26E introduced in the SARFAESI Act, 2002 which gives overriding effect to the security interest in favour of the secured creditors covered under the provisions of the said Act. The said Section 26E of the Act, which is akin to Section 31B of the Recovery of Debts Provisions Act reads as under: 26-E. Priority to secured creditors.-Notwithstanding anything contained in any other law for the time being in force, after the registration of security interest, the debts due to any secured creditor shall be paid in priority over all other debts and all revenues, taxes, cesses and other rate payable to the Central Government or State Government or local authority. E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plication in the Civil Court was 10.23 acres and therefore, the excess land could remain in the attachment of the Decree Holder and the decree of the Appellant could be satisfied out of such shown excess land. 3. Per contra, Mr. N. L. Rajah, learned Senior Counsel appearing on behalf of the Respondent ARCIL submitted that the issue is no longer res integra and in view of the overriding provisions of Section 26E of the SARFAESI Act, the Full Bench of this Court, in the case of Assistant Commissioner (CT) V. The Indian Overseas Bank in W.P.No.2675 of 2011 and other batch of cases , has decided on 10.11.2016 that while dealing with a similar provisions of Section 31B of the RDB Act which was also similarly worded with non obstante clause as Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terest claimed by the financial institutions or his assignee like ARCIL in the present case. Therefore, there is no iota of doubt that the learned Single Judge was justified in lifting or raising or removing the attachment over the secured interest or the land in question which is secured of the secured creditor Bank of India/ARCIL in the present case. 5. As far as the claims, based on facts or objections like the extent of land, being the secured interest of the Bank/Assignee's concerned or its value being an excess etc. if any, are concerned, these factual issues are required to be gone into by the concerned Debts Recovery Tribunal or the Authorised Officer thereof, who is dealing with the said security interest under the provisions o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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