Draft Sale Deed under SARFAESI Act
P.Balasubramaniam
(Querist) 19 July 2008
This query is : Resolved
Dear Friends,
Please send me the draft sale deed under SARFAESI Act to be executed by the Authorised Officer of the Bank in favour of the auction purchaser for the immovable properties
GOPI KRISHNA
(Expert) 20 July 2008
MR Balasubramaniam
the sale deed executed by Authorised officer is similar to that of ordinary Sale deed and some clauses are to be incorporated regarding initiation of detailed proceedings under SARFAESI ACT,when notice was issued, when possession was taken, date of paper notice was issued in news paper for auction sale etc, the said details will help the purchaser rg the title of the property
P.Balasubramaniam
(Querist) 21 July 2008
Dear Mr.Gopi Krishna
Thankyou very much for your guidence.
R.S.Rajesh
(Expert) 21 July 2008
The Sale Certificate as per the Appendix V under rule 9 (6) of the SARFAESI is executed by the Authorised Officer of the bank and not the sale deed.The certificate shall be executed after the confirmation of the sale.The form is provided in the book written by R.S.Rajesh & Published by the Ameya publications, Bangalore.It is provided in the Act itself.
P.Balasubramaniam
(Querist) 21 July 2008
Dear Mr.R.S.Rajesh Sir,
I had already approached the concerned Sub Registrar, Coimbatore but he refused to register the sale certificate and he only suggessted to register the Sale Deed.
Shyam Ji Srivastava
(Expert) 28 September 2008
Dear P.Balasubramanium
I think I m too late to give you opinion. actually i am also penal advocate of few nationalised bank and and handled work under SERFAESI Act. The sub registrar righty refused to register sale certificate.I am fully convinced with the opinion of Sri R.S. Rajesh.
Shyam Ji Srivastava
