JUDGMENT

A.Muhamed Mustaque, J .

This appeal filed by Dhanlaxmi Bank raises an important question of law. The question of law is about the overriding effect of Section 26E of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act ( SARFAESI Act), 2002 over the provisions of Section 11, 11-A, 11-B and Section 28-A(3) of the Securities Exchange Board of India Act (SEBI Act), 1992.

2. The appellant/bank claims that on the introduction of Chapter IV A in the SARFAESI Act, with effect from 24/01/2020, the secured creditor, who had registered secured interest with the Central Registry will have priority right over all other debts and all revenues, taxes and other rates payable to Central Government or State Government or local authority. This is a primary question to be decided. There are two more questions to be answered in this appeal regarding the registration of secured assets with the Central Registry and also defining what are the priority rights of the secured creditor under Section 26E of the SARFAESI Act. This contention arises in the context of a claim made by the SEBI that the amount due to SEBI recoverable under Section 11-B of the SEB