Apex Law Journal
Apex Law Journal
An online law journal reporting latest and important judgments of Hon'ble Supreme Court of India.                                                                                                                         Click here to get free legal updates via email                                                                                                                          Click here to download forms (Address Form, List Of Documents and Memorandum Of Appearance)
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Neha Goel, Advocate

Advisory Board

S.C. Khunger, Advocate

Rohit Bansal, Advocate

Varinder Singh Kanwar, Advocate

Hittan Nehra, Advocate

Judgments on Statutory First Charge

Wednesday, December 14, 2011
Statutory First Charge

Statutory First Charge — The nature of statutory first charge and the rule of priority of the State’s dues were considered in Builders Supply Corporation v. Union of India (1965) 2 SCR 289, State Bank of Bikaner and Jaipur v. National Iron and Steel Rolling Corporation (1995) 2 SCC 19, Dena Bank v. Bhikhabhai Prabhudas Parekh & Co. (2000) 5 SCC 694 and State of M.P. v. State Bank of Indore (2002) 10 SCC 441 in the context of contra claim made by unsecured creditors.

Statutory First Charge

Statutory First Charge — First charge created by taxing statutes enacted by State legislatures will prevail over the debts due to secured creditors — Central Bank of India v. State of Kerala (2009) 4 SCC 94 relied.

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