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.
Thursday, December 15, 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.
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