COMMISSIONER OF CENTRAL EXCISE Vs. INDIAN BANK

JUDGEMENT

(1.) We have heard the learned Counsel for the parties. In view of the provisions of Section 142 of the Customs and Central Excise Act and also in view of the law laid down by the Apex Court in Dena Bank v. Bhikhabhai Prabhudas Parekh & Co. and State of Bikaner & Jaipur v. National Iron & Steel Rolling Corporation and Ors. the Central Excise Department will have precedence over the secured creditors. The first respondent bank is directed to pay the excise dues to the appellant after adjudication. With this direction, the appeal stands disposed of.