Customs Act, 1962 · Chapter XVII: Miscellaneous
Section 142A: Liability under Act to be first charge
Notwithstanding anything to the contrary contained in any Central Act or State Act, any amount of duty, penalty, interest or any other sum payable by an assessee or any other person under this Act, shall, save as otherwise provided in section 529A of the Companies Act, 1956 (1 of 1956), the Recovery of Debts Due to Banks and the Financial Institutions Act, 1993 (51 of 1993) and [the Securitisation and Reconstruction of Financial Assets and the Enforcement of Security Interest Act, 2002 (54 of 2002) and the Insolvency and Bankruptcy Code, 2016 (31 of 2016).]]
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 142A
-
CONSTITUTED BY THE GoI) v. SUPT. OF CENTRAL EXCISE A ND
Whether the Customs Act, 1962 creates a first charge overriding the charge in favour of the secured creditor.
- Paschimanchal Vidyut Vitran Nigam Ltd. v. Raman
- Sundaresh Bhatt, Liquidator of Abg Shipyard v. Central Board of Indirect Taxes and Customs