Legal Question in Credit and Debt Law in India

SARFAESI act 2002 and interpretation of authorised officer..

Is it necessary to get the sale letter issued by bank to an individual under SARFAESI act to be registered by paying proper stamp duty, for the transaction to be registered at SUb Registrar Office? Does the Village officer have power to issue a possession certificate with out registering the sale? Can Registration act be corelated with SARFAESI act in interpretation of the authorised officer to be any civil officer? If the sale letter is to be registered is there any concession in stamp duty,or the existing rates for sale do apply? The stamp duty laws apply to that of state of Kerala.


Asked on 7/13/08, 5:12 am

1 Answer from Attorneys
Advocate Siva Subramanian M/s. R. Siva Subramanian

Re: SARFAESI act 2002 and interpretation of authorised officer..

In Court-auction sale, the decree of the court is sufficient to get the sale registered, in your case, please produce the sale letter of the bank before your area's registering authorities and seek their opinion. Registration is mandatory and Village officer does not have powers to issue such type of possession certificate.

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Answered on 7/17/08, 2:37 am


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