Back
IN THE HIGH COURT OF JUDICATURE AT MADRAS
M.JOTHIRAMAN, N.SATHISH KUMAR
Inspector General of Registration, Chennai – Appellant
Versus
Riddhi Siddhi Cotex Private Limited – Respondent
| Table of Content |
|---|
| 1. challenge to orders of registering authority. (Para 2 , 3 , 4) |
| 2. arguments on applicability of stamp act. (Para 5 , 6 , 7 , 8) |
| 3. discussion on authority of registering officer. (Para 9 , 10 , 11 , 12) |
| 4. conflict in interpretations of case law. (Para 13 , 14 , 15) |
| 5. definition of 'revenue officer' under law. (Para 16 , 17 , 18 , 19 , 20) |
| 6. clarification of sale certificates and conveyance. (Para 22 , 23 , 24 , 25 , 26) |
| 7. final interpretation on legality of referral under the stamp act. (Para 28 , 29) |
| 8. conclusion dismissing writ appeals. (Para 30) |
JUDGMENT :
N. SATHISH KUMAR, J.
1. Since the issue involved in all the Writ Appeals is one and the same, we are inclined to dispose of the same by a common judgment.
2. The present writ appeals have been filed by the appellants challenging the orders of the learned Single Judges, whereby the orders of the Registering Authority referring the sale certificate under Section 47-A of the Indian Stamp Act on the ground of undervaluation of the properties were quashed.
3. The Writ Petitioners purchased the properties through public auctions conducted by the authorities. When the sale certificates were presented for registration, reg
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 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 under SARFAESI Act are not compulsorily registrable and do not require stamp duty when filed under Section 89(4) of the Registration Act.
Stamp duty – In case of a public auction monitored by court, discretion would not be available to Registering Authority under Section 47A of Indian Stamp Act, 1899.
Stamp duty for Sale Certificates must be calculated based on the purchase price stated in the certificate, not the market value, with total permissible duties capped at specified rates.
The main legal point established in the judgment is that sale certificates should be filed in Book No.1 under Section 89(4) of the Registration Act without insisting on stamp duty, based on the decis....
The judgment established that the sale conducted by the AO under the SARFAESI Act is equivalent to a sale in the open market and exempt from scrutiny under Section 47A of the 1899 Act.
Section 47A of the Indian Stamp Act is not applicable to public auctions, as established by precedent.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
