Section 11E. Liability under Act to be first charge

5[ 11E. 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 or the rules made thereunder 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 1. Ins. by Act 29 of 2006, s. 36. 2. Subs. by Act 25 of 2014, s. 95, for "Commissioner of Central Excise". 3. The words "sub-section (1) of" omitted by Act 17 of 2013, s. 92. 4. Subs. by Act 25 of 2014, s. 95, for "Chief Commissioner of Central Excise" 5. Ins. by Act 8 of 2011, s. 66. Financial Institutions Act, 1993 (51 of 1993)[1] [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], be the first charge on the property of the assessee or the person, as the case may be.]