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AKULA VENKATA SESHA SAI, SUMATHI JAGADAM
Pavan Chandra Chit Fund Pvt. Ltd. – Appellant
Versus
Union of India – Respondent
ORDER
Akula Venkata Sesha Sai, J.
1. Heard Smt. Nimmagadda Revathi, learned counsel for the petitioner and Smt. V.Dyumani, learned Standing Counsel for the Respondent-Bank and the learned Government Pleader for Stamps and Registration for Respondent Nos. 4 and 5.
2. The present Writ Petition is filed seeking a direction to the 3rd respondent-bank to forward copies of Sale Certificates issued in favour of the petitioner to the registration authorities for filing the same in Book No. 1 as per Section 89 of the Registration Act, 1908 (for short 'the Act'). In the public auction conducted under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Act, 2002, the subject properties were auctioned on 27.06.2016 and the petitioner herein emerged as a successful bidder. Pursuant to the confirmation of sale, the Respondent-Bank issued Sale Certificates also in favour of the petitioner on 13.07.2016. According to the petitioner, as advocated by the learned counsel for the Writ Petitioner, the petitioner herein submitted a number of representations to the Respondent- Bank authorities including the one on 24.07.2023 requesting to send the Sale Certifi
The authorized officer of a bank must forward Sale Certificates to registration authorities as mandated by the Registration Act, 1908.
Sale Certificates under the SARFAESI Act must be registered without stamp duty as their entry under Section 89(4) of the Registration Act suffices as validation.
The court held that a sale certificate, required to be filed in the local registration office under law, cannot be refused based on a status quo order in a related civil suit involving a non-party.
Petitioner's entitlement to relief for enforcement of registration obligations without undue stamp duty requirements.
Mandate of law in terms of Section 17(2)(xii) read with Section 89(4) of Registration Act, 1908 only required authorised officer of bank under SARFAESI Act to hand over duly validated sale certificat....
The main legal principle established in the judgment is that a sale certificate issued by a Civil or Revenue Officer does not require compulsory registration and should be filed in Book No. 1 as per ....
Sale certificates issued by banks are not compulsorily registrable and filing them in Book No.1 does not attract stamp duty.
The court affirmed that a sale certificate under Section 89(4) of the Registration Act may be entered without stamp duty, pending decision by a Full Bench.
The Sale Certificate issued by a bank under specific statutes does not require stamp duty or registration, as per Section 89(4) of the Registration Act, 1908.
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