Supreme Court : State Gets Priority on Debt Over Banks & Other Lenders

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A three judge bench of hon’ble Supreme Court in Central Bank of India Vs State of Kerala & Ors [(2009) INSC 435; (2009) 4 SCC 94: Decided on 27.02.2009 has  settled the controversy   about the priority of claim on assets of debtor by the State and other secured creditors like Banks and others. The Supreme…