#overriding effect

The Bombay High Court has ruled that a secured creditor’s rights under the SARFAESI Act, including possession orders under Section 14, take precedence over conflicting arbitration awards and judicial attachments - even when the debtor is a decree holder. This clarifies that equitable mortgage registration and CERSAI compliance empower banks to bypass civil litigation outcomes, reshaping asset recovery strategies across financial institutions.

Bombay High Court rules that the Prevention of Money Laundering Act (PMLA) prevails over the SARFAESI Act and RDB Act, denying secured creditors priority over attached proceeds of crime. Creditors must approach the Special Court under Section 8(8) of PMLA for relief, reinforcing the Act's overriding confiscatory regime.

Supreme Court holds that delayed, non-compliant SOA under Companies Act cannot override IBC proceedings; Section 238 mandates priority for corporate revival.

The CETAT holds that Section 26(1)(e) of the SEZ Act, 2005 overrides conditional exemptions under Notification No. 4/2004-ST, granting automatic service tax exemption for services provided to SEZ units.