Sarfaesi

Ritika singh (Querist) 14 March 2013 This query is : Resolved
is the sale certificate issued after auction to a purchaser under sarfaesi registered under registration act,1908

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R.K Nanda (Expert) 14 March 2013
state full facts.

Ritika singh (Querist) 14 March 2013
i have been issued a sale certificate as an auction purchaser. the sale certificate is stamped in excess amount so a case is filed with collector of stamps for refund however i didnt get it registered and it has run out of limitation period .is it to be registered ???

K.K.Ganguly (Expert) 14 March 2013
The Sale Certificate issued by the Auctioning Bank need not be registered.

Raj Kumar Makkad (Expert) 14 March 2013
It need not to be registered as the certificate is not the valid title deed rather subsequently a registered sale-deed is required to be registered on the basis of that sale certificate.

RAJU O.F., (Expert) 16 March 2013
Even though some judgments are suggesting the sale certificate under SARFAESI Act need not be registered, practically it is better to get it registered so as to reflect the same in EC and also to avoid mischief of sale/ mortgage of same property by somebody else.

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