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2016 (4) TMI 268 - PUNJAB AND HARYANA HIGH COURT

2016 (4) TMI 268 - PUNJAB AND HARYANA HIGH COURT - TMI - Property sold in auction - confirmation of sale - whether sale certificate issued in the auction of the immoveable property on the orders of the Debts Recovery Tribunal falls within the ambit of compulsory registrable document as per Section 17(4) of the Indian Registration Act, 1908? - Held that:- Sale certificate was issued by the authorized officer, who was neither civil or revenue officer, therefore, the registration of sale certificat .....

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(8-0), situated in revenue estate of Village Talwan, Tehsil Phillaur, District Jalandhar, were sold by way of auction by the authorized officer of the State Bank of Patiala, exercising the power under Section 13 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for Short the 2002 Act ] read with Rule 12 of the Security Interest (Enforcement) Rules, 2002 [for short the 2002 Rules ] to the petitioner in terms of Order dated 26.3.2014 pass .....

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ued by the Stamp and Registration Branch vide Memo No.24/151/2012- S.T.-1/8905-26 dated 24.7.2014. According to the said instructions dated 24.7.2014, the Revenue Rehabilitation and Disaster Management Department (Stamp and Registration Branch) directed all the Deputy Commissioners of State of Punjab (Registrar) that the sale certificate issued in the auction of the immoveable property on the orders of the Debts Recovery Tribunal falls within the ambit of compulsory registrable document as per S .....

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ertificate, issued to the petitioner, in Book No.1 and to sanction the mutation. Since the respondents did not reply thereafter, the petitioner filed the present petition. In the reply filed by the respondents, it is averred that after the instructions issued vide Memo No. 24/151/2012-S.T.- 1/8905-26 dated 24.7.2014 another instruction was issued substituting it vide Memo No. 24/151/2012-S.T.-1/8927-9215 dated 24.7.2014 directing that Section 89(4) of the Act be read instead of Section 17(4) of .....

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n favour of the purchaser, the sale becomes absolute and the title vests with the purchaser. The sale certificate is issued to the purchaser only when the sale becomes absolute, the sale certificate is merely an evidence of such sale and title and no further deed of transfer from Court is contemplated or required. It is further held that insofar as the sale certificate is concerned, as per Section 17(2)(xii) of the Act, the sale certificate granted to any purchaser of any property sold by a publ .....

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Tax Recovery Officer, who effects a compulsory sale for the recovery of an income tax demand and as such the copy of certificate of sale received has to be pasted in Book No.1 and no more. On the other hand, learned counsel for the respondents has relied upon a Division Bench judgment of the Madras High Court in the case of M/s P.M. Associates, Udhagamandalam Vs. IFCI Limited Chennai 34 and others 2014(10) RCR (Civil) 1861. In this case, the sale certificate was issued under Rule 9(6) of the 20 .....

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icer of the State Bank of Patiala, who has sold the property in question in terms of the order passed by the Debts Recovery Tribunal in exercise of his power under Section 13 of the Act and Rule 12 of the 2002 Rules and issued the sale certificate in terms of Rule 9(6) of the 2002 Rules. In the case of B. Arvind Kumar (Supra), relied upon by the petitioner, the property was sold in auction by the official receiver of an insolvent declared as such in an insolvency suit by the Civil Court. It was .....

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