Registration of agreement of movable property

skn (Querist) 25 May 2016 This query is : Resolved
Dear Sirs,
1. Whether Sec, 17 & 18 of Registration act do explain about compulsory registration of movable property?
2. Is it compulsory to register contracts of movable property, sale purchase of machinery, service agreement etc.,?
3. Please elaborate the pros & cons of registration and non registration of agreement of movable property, sale purchase and service agreement with facts and provisions of related acts,
Regards,
Sonappa.

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r.sathyanarayanan (Expert) 25 May 2016
Dear skn,
Sec 17 only specific items which requires compulsory registration is given.movables does not require compulsory registration.how ever u can if you want you can register that sale of movables as an agreement of Transfer .

Rajendra K Goyal (Expert) 25 May 2016
Seems examination question / Academic query, state material facts of the problem if any.

skn (Querist) 25 May 2016
Dear Sirs, Thanks for replies, however, would sincerely like to mention that, this is not academic question. In my company we have entered in a agreement for purchase of machinery valued for Rs. 1.17 cr. advocate has suggested to pay Stamp duty of Rs. 21,600/-, Finance team questioned why it is necessary to spend that much money?
Being an law graduate(non practitioner) I could answer that, in the event of any dispute if arises in future, if the contract is not registered,court may not take cognizance of agreement as valid evidence.
We being a company involved in various contractual transaction, management needs substantial facts from laws to support my views.
Therefor requesting to comment on my query.
Thanks & Regards,
Sonappa