Entries by Staff

Supreme Court ruling revives the quandary, holds tax authorities to be secured creditors

Sikha Bansal, Partner, Vinod Kothari & Company Neha Sinha, Executive, Vinod Kothari & Company corplaw@vinodkothari.com Introduction Lawmakers might have put the best of efforts to frame the law in the clearest possible way, however, there may still be possibilities of diverse readings (and thus, diverse interpretations). Such a scenario is often addressed by the judiciary […]

Tax dues subservient to dues of secured creditors under SARFAESI Act and RDDB Act

Neha Sinha, Executive, Vinod Kothari & Company corplaw@vinodkothari.com Introduction SARFAESI Act and RDDB Act are specific laws for recovery of debts.  Both these laws provide that  the secured creditors can claim priority for the realisation of dues. On the other hand, State and Central tax authorities can also enforce the payment of tax dues under […]