LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Akash (Director)     29 July 2014

Sarfaesi sale

Dear Sir's

I would like to seek a calrification if a bank under Sarfaesi act is selling Assets like building , land and giving a sale certificate , does the person purchase these assets liable for registration , stamp duty and other taxes .


 8 Replies

c.p.s. ramachary (1500)     29 July 2014

The purchaser has to pay stamp duty and registration charges and taxes if specified in the sale notice.

1 Like

Advocate Bhartesh goyal (advocate)     29 July 2014

Yes purchaser has to par registrtion charges,stamp duty and other required taxes.

1 Like

MANOJ HARIT (LAWYER)     29 July 2014

Agree with the esteemed Seniors. The purchaser has to bear these charges.  

1 Like

Akash (Director)     30 July 2014

Thank you very much for your valuable advice , appreciate your time .

RAJU O.F., (Advocate)     30 July 2014

Sale Certificate issued by Bank may not require stamp duty and registration. But if the purchaser wish to register the Sale Certificate he has to pay stamp duty as well as Registration fees applicable in the concerned state.

1 Like

c.p.s. ramachary (1500)     30 July 2014

Dear Mr.Raju,

Sale certificate issued by bank warrants registration within the meaning of Sec.54 of TP Act.

Madras High Court in Chidambara Manikkam Vs. Shakeena : AIR 2008 Mad.108 held that, sale certificate issued by Civil Officers / revenue officials does not require registration under Section 17 of Registration Act. Distinguishing with the view of Madras High Court in the above cited case, M.P. High Court in Mid India Power & Steel Ltd. Vs. Andyogic Kendra Vikas Nigam : 2011(1) D.R.T.C. 62 (M.P), held that Authorised Officer is not Civil or Revenue Officer within the meaning of Sec.17(2) (xii) of Registration Act and held that the sale certificate issued by Authorised Officer requires registration. 

Nadeem Qureshi (Advocate/     31 July 2014

registration is must for change the title, agree with expert Mr. Ramachary

RAJU O.F., (Advocate)     01 August 2014

Thank you Ramachary Sir, for providing the latest ruling on the stamp duty and registrtion in sale under SARFAESI Act

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register