#Attachment Order

The Andhra Pradesh High Court has ruled that a secured creditor’s prior registered mortgage takes precedence over a later civil court attachment, compelling registration of the SARFAESI sale certificate regardless of the property’s inclusion in a prohibited list. This reinforces the supremacy of secured interests under the SARFAESI Act and clarifies that administrative restrictions cannot override statutory priority rights of financial institutions.

Bombay High Court rules that a secured creditor's interest under SARFAESI Act, registered before MPID attachment, cannot be nullified. MPID authorities must first exhaust deposit-acquired assets before attaching other properties, reinforcing the priority of perfected security interests in insolvency proceedings.

The Punjab & Haryana High Court ruled that chit funds operating without state sanction under the Chit Funds Act, 1982, remain subject to attachment under the Haryana Protection of Depositors Act, 2013. The judgment underscores that regulatory compliance is a prerequisite for statutory exemptions, impacting unregistered financial establishments in Haryana.