Dues under Micro, Small and Medium Enterprises Development Act, 2006 would not prevail over SARFAESI Act.

Citation

AIR 2023 SUPREME COURT 268 

(2023) 3 SCC 210

SUPREME COURT

: AIROnline 2023 SC 10 (From : Madhya Pradesh)*

M. R. SHAH, J. and KRISHNA MURARI, J.

Civil Appeal No. 6662 of 2022, D/-5-1-2023

Kotak Mahindra Bank v. Girnar Corrugators Pvt. Ltd.

(A)Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (54 of 2002), S.13, S.14, S.26E (Inserted by amendment 2016) - Micro, Small and Medium Enterprises Development Act (27 of 2006), S.17, S.24 - Recovery proceedings - Dues under Micro, Small and Medium Enterprises Development Act, 2006 would not prevail over SARFAESI Act.

Interpretation of Statutes Effect of non-obstante

clause.