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2021 (1) TMI 1308 - SC - Indian LawsFailure of the Appellant-M/s. Esjayee Impex Pvt. Ltd. to repay a Loan to Canara Bank and the consequent proceedings initiated by the Bank under the SARFAESI Act, 2002 - handing over possession of Secured Assets to Canara Bank in respect of an immovable property - HELD THAT:- The aspect of possession by the Auction Purchaser was already taken care of by our Order, dated 11.9.2020 recording that possession was handed over to the Auction Purchaser in pursuance to a Letter, dated 6.11.2019 but the backside portion was being used to store goods of the original Owners preventing full enjoyment of the property - It is also noticed that in case the Auction Purchaser was to continue to enjoy the property and the Petitioner(s) defaulted, one week's time would be granted to remove what has been stored in the back portion. Thus, the Bank will ensure that those Goods are removed within one week from today to facilitate unhindered enjoyment of the possession by the Auction Purchaser. Learned Counsel for the Bank agreed that the Sale Certificate has to be further validated and assured that the needful will be done within two weeks. However, a submission was made that the Sale Certificate was then to be handed over to the Registering Authority for registration and payment of Stamp Duty. The mandate of law in terms of Section 17(2)(xii) read with Section 89(4) of the Registration Act, 1908 only required the Authorised Officer of the Bank under the SARFAESI Act to hand over the duly validated Sale Certificate to the Auction Purchaser with a copy forwarded to the Registering Authorities to be filed in Book I as per Section 89 of the Registration Act - SLP dismissed.
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