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RU
HC Upholds Secured Creditor’s Priority Over Government Dues Under SARFAESI
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taxguruin
AdvertisementPridhvi Asset Reconstruction and Securitisation Company Limited.
Vs State of A.P.
(Andhra Pradesh High Court) The Andhra Pradesh High Court considered a writ petition challenging an auction notice issued by the Deputy Commercial Tax Officer-I, Chittoor, published in the Chittoor District Gazette on 16.11.2020, and an attachment notice dated 17.02.2020 issued under the A.P.
The third respondent had borrowed funds from Andhra Bank by mortgaging the subject property on 16.03.2013.
Following default, the account was classified as a Non-Performing Asset (NPA), and Andhra...