TEK CHAND BANSAL Vs. STATE OF HP

JUDGEMENT

(1.) The moot question in this petition is as to whether the different departments of State including Excise and Revenue will have priority over the secured creditor's debt?

(2.) The issue in question is no longer res'integra in view of the authoritative judgment of the Hon'ble Supreme Court reported in (2022) 7 Supreme Court Cases 260, titled as, 'Punjab National Bank Vs. Union of India and Ors.' decided on 24/2/2022. It will be apt to reproduce the relevant paras of the judgment, which read as under:'

(3.) In view of the legal position, set out hereinabove, this Court is left with no other option, but to allow this petition, by directing the respondents to register the sale certificate, dtd. 10/10/2017, issued by the Canara Bank, whereby the property in question has been sold to the petitioner. Ordered accordingly.