Secured Creditors Entitled to Priority After Enactment of Section 26E under SARFAESI Act: Punjab & Haryana High Court
The Punjab and Haryana High Court has reaffirmed that after the notification of Section 26E of the SARFAESI Act on 24 January 2020, secured creditors enjoy statutory priority over all other dues. The Court clarified that in every case where the charge is created after this date, debts owed to secured creditors will prevail over State revenue claims. The Bench of Chief Justice Sheel Nagu and Justice Sanjiv Berry noted…
