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IN THE HIGH COURT OF JUDICATURE AT MADRAS
G.R.SWAMINATHAN
Tri Infra Studio Pvt. Limited, Represented by its Director, R.Sachithanantham, S/o.Ravikumar – Appellant
Versus
Inspector General of Registration – Respondent
| Table of Content |
|---|
| 1. background and context of property auction and sale certificate registration. (Para 2) |
| 2. discussion on how the auction process should influence registration procedures. (Para 3 , 4) |
| 3. clarification on registration requirements and implications for sale certificates. (Para 5 , 6 , 10 , 12) |
| 4. conclusions on the legal standing of filed versus registered documents. (Para 9 , 13) |
| 5. final ruling and orders addressing the sub-registrar’s demands. (Para 15 , 16) |
ORDER :
1. Heard both sides.
2.The properties that are the subject matter of this writ petition belonged to C.P Spinning Mills Pvt Ltd., The said company availed loan from the Catholic Syrian Bank Ltd by mortgaging the said properties. The company committed default and went into liquidation. The properties were brought to auction sale under the provisions of the SARFAESI Act, 2002 . The Authorised Officer invited bids vide public notification dated 30.12.2023. The writ petitioner's bid was highest. The Authorised Officer issued sale certificate in favour of the petitioner on 28.03.2024. It was presented to the registering authority for registration. The writ petitioner paid 7% towards stamp duty and 4% towards regis
The sale certificate from a public auction does not require registration under the Registration Act, and the value for stamp duty is based on the purchase price stated, not an assessed market value.
Sale certificates issued by operation of law under SARFAESI do not fall under Section 47-A of the Indian Stamp Act for undervaluation, distinguishing them from conveyance instruments.
The main legal point established in the judgment is that a sale certificate presented for filing in Book-I under Section 89(4) of the Registration Act does not need to be stamped or registered, as di....
Sale certificates issued under SARFAESI Act are not compulsorily registrable and do not require stamp duty when filed under Section 89(4) of the Registration Act.
Sale certificates issued under SARFAESI Act are not compulsorily registrable and do not require stamp duty when filed under Section 89(4) of the Registration Act.
Sale certificates issued by banks are not compulsorily registrable and filing them in Book No.1 does not attract stamp duty.
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 under the SARFAESI Act must be registered without stamp duty as their entry under Section 89(4) of the Registration Act suffices as validation.
A sale certificate issued by a bank does not attract stamp duty at issuance under the Kerala Stamp Act but may do so if registered subsequently.
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